Zhitong Finance App News, Chuanyi Technology (002866.SZ) issued an announcement. According to the company's own development strategy and business development needs, in order to actively expand the layout of overseas production bases, achieve significant development in the international market, and enhance the company's core competitiveness, the company plans to establish a new wholly-owned subsidiary, Chuanyi Overseas Co., Ltd. with its own capital, with no more than 5 million US dollars. The actual investment amount is based on the amount approved by the Chinese and local authorities. The investment amount of Chuanyi Overseas Co., Ltd. is mainly used to invest in the establishment of Sun Company Vietnam Chuanyi, and Vietnam Chuanyi invests in the construction of overseas production capacity construction projects around the company's main business in Vietnam.

The investment to establish Chuanyi's subsidiary in Singapore and the establishment of a subsidiary in Vietnam is a prudent decision made by the company based on the overall strategic layout and future development needs, and based on long-term interests. Through this foreign investment, it will effectively increase the diversification of product origin, help the company rationally lay out domestic and international production bases and production capacity, strengthen supply chain collaboration with overseas customers, ensure the stability of export sales of the company's main products, improve the company's service capacity, reduce the impact of fluctuations in the international economic environment and changes in trade frictions on the company's operations, accelerate the achievement of the strategic goals of the company's business internationalization, enhance the company's core competitiveness and overall profitability, and achieve the company's long-term sustainable development.