According to the news from Zhitong Finance APP, cu venture inv (08159) announced that on November 18, 2024, Brilliant Electronics Co., Ltd. (the company's indirect wholly-owned subsidiary) as the tenant signed a lease agreement with Jingcheng Paper Industry Co., Ltd. as the owner to lease the property as the group's production base located in Vietnam for a period of five years.

The property is located in the Pho Noi A Industrial Zone D3 Road, Le Hong Township, Van Lin County, Hung Yen Province, Vietnam, with a total area of approximately 10,000 square meters, including: three production workshops, an office building, a security room, traffic and green space.

The announcement states that the group's electronic business is mainly focused on exporting electronic products. To reduce the impact of external factors such as geopolitical issues and trade tariffs between china and the United States on the group's electronic business, there is an urgent need for the group to establish production bases outside mainland china. By establishing production bases overseas, the electronic products produced can meet the order demands of the group’s major overseas customers, and the production base will become an important bridge connecting the global market, promoting closer cooperation between the group and overseas customers, and implementing the china plus one business strategy. Additionally, establishing overseas production bases can also enhance the group's operational efficiency, promote quality, upgrade management, and ensure that the group's electronic products meet international quality standards and requirements. After thorough investigation and comparison, the company believes that the electronic industry supply chain and potential downstream customer base in Vietnam are more concentrated and relatively mature compared to other Southeast Asian countries (such as Thailand, Myanmar, Cambodia, etc.). Therefore, the company has decided to establish a lease agreement to lease the property for the group to set up a factory and operate its electronic business in Vietnam.