On September 25, GeoDaily reported that q p group(01412.HK) announced that on September 25, 2024, Q P EnterpriseVietnam (an indirectly wholly-owned subsidiary of the company) entered into a construction contract with a contractor to construct the existing factory building. Under the agreement, the contractor agreed to undertake the construction project to expand the existing factory building for a consideration of approximately 55.99 million Hong Kong dollars, which is subject to adjustment (if any).

The group plans to expand its existing Vietnam factory in order to develop a more comprehensive supply chain locally, thereby further enhancing the ability to mitigate potential operational risks caused by geopolitical factors.