Gelonghui January 2, the new material of the prince (002735.SZ) announced that in order to develop consumer electronics business and environmental protection packaging business, tap the potential of the Southeast Asian market, and promote the strategy of business globalization, the company (including its subsidiaries) plans to invest no more than 20 million US dollars in Thailand. The funds are mainly used for the establishment of secondary subsidiaries, the purchase of land, infrastructure, procurement of production equipment and raw materials and other production operations. The proposed secondary subsidiary is tentatively named WANGZI (THAILAND) CO.,LTD. (the Chinese name is Prince (Thailand) Co., Ltd., subject to the final examination and approval of the Thai territorial registration authority, "Prince of Thailand"), with a registered capital of 5 million baht. The shareholders are Shenzhen Pak Hing Technology Co., Ltd. ("Zhenxing Technology"), Shenzhen Chuangxiang Global Trading Co., Ltd. ("Creative Global"), Shenzhen Xinnuo Packaging products Co., Ltd. ("Shenzhen Xinnuo"), Lei Jie, Dai Deping and Liao Zhonghe. The shareholding ratio is 95%, 1%, 1%, 1% and 1% respectively, and the management of the company is authorized to handle matters related to the establishment of the prince of Thailand.

The company plans to adopt Pak Hing Technology and THAI-CHINESE RAYONG INDUSTRIAL REALTY DEVELOPMENT CO.,LTD. (Chinese name is Taizhong Luoyong Industrial Park Development Co., Ltd., "Taizhong Luoyong") signed a land purchase intention agreement to purchase industrial land located in the Taizhong Luoyong Industrial Park in Royong, Thailand, for the construction, production and operation of the prince's base in Thailand. At the same time, the management of the company is authorized to handle the purchase of land.

WANGZI (THAILAND) CO.,LTD. (provisional name, Prince (Thailand) Co., Ltd.) Business scope: wireless charging products and rechargeable batteries, portable battery (the above items do not contain dangerous chemicals) and chargers, digital electronic products and their spare parts, electronic cigarettes and electronic atomizers, power batteries and power tool batteries, energy storage batteries and energy storage system accessories R & D, production and sales Intelligent electric scooter, electric balance vehicle, intelligent electric bicycle production and sales; plastic products, foam, mechanical and electrical equipment, mechanical equipment and spare parts, paper products, packaging materials, mold research and development, production and sales; instrumentation sales; trade agency services; goods and technology import and export; quality inspection technical services.

Shenzhen Baixing Technology Co., Ltd. bought the land at a unit price of 4.1 million baht / lai, and the total price of the land is about 41.41615 million baht, which is about 9.6317 million yuan at the exchange rate between RMB and Thai baht. The final land price shall be multiplied by the actual area after surveying and mapping by the unit price of the land.

This foreign investment is based on the company's overall strategic planning and operating needs, and will play a positive role in the company's future business expansion and performance growth. In addition, in view of the changes in the global trade situation, the establishment of subsidiaries through overseas investment will help companies to cope with future trade risks.

The purchase of land can solve the problem of the location of the production base and construction land of the prince of Thailand, and enhance the overall image and strength of the company; at the same time, the administrative office and the factory will be located in the same area, which is convenient for management and improves work efficiency and operational efficiency. The funds for the purchase of land are the company's own funds and will not have a significant impact on the cash flow of the company's day-to-day operations. After purchase, it will be included in the accounting of enterprise fixed assets, which will play a positive role in further improving the company's asset structure, enhancing anti-risk ability and maintaining long-term and stable development.