Ten Pao Group (01979.HK) Chairman and CEO Hong Guangyi said in an interview with this website that the second new factory in Vietnam has recently opened, mainly producing electric tool smart controllers, covering an area of approximately 5,500 square meters.

Hong Guangyi revealed that Ten Pao Group invested about 40 to 50 million Hong Kong dollars in the above-mentioned new factory in Vietnam, expecting the combined production capacity of the two local factories to account for 10% to 30% of the group's total.

Hong Guangyi mentioned that the group has reassigned some management personnel and technical experts from the Huizhou factory to Vietnam. As for the intelligent production system used in Huizhou, it will be implemented in other factories in other regions after the technology matures.

Hong Guangyi also mentioned that due to the ongoing conflicts in the Middle East and Russia-Ukraine, the group remains conservative about next year. The group will only consider other potential investment opportunities while maintaining its current performance, describing Ten Pao Group as 'growing in crisis'.

In addition, Ten Pao Group is currently constructing a new factory in Mexico, covering an area of approximately 2.3 square kilometers (equivalent to 2.3 million square meters), with 5 production lines, aiming to start production officially in 2025. (js/w)

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