Shanghai Automobile Air-(SH:603107) Shang Hai Zheng Quan Bao·2025-08-05 18:55Group 1 - The company held its 18th meeting of the third board of directors on August 5, 2025, where all 9 attending directors voted in favor of the proposal to establish a holding subsidiary [2][3]. - The board approved the investment to establish a subsidiary with a registered capital of RMB 20 million, where the company will contribute RMB 12 million, accounting for 60% of the capital [5][6]. - The investment aims to expand the company's product range and enhance its competitive strength in the automotive sector, particularly in the vehicle refrigerator market [12]. Group 2 - The new subsidiary, tentatively named Shanghai Aisi Rewing Intelligent Technology Co., Ltd., will focus on the vehicle refrigerator business [6][7]. - The global vehicle refrigerator market is projected to grow from approximately RMB 50 billion in 2024 to RMB 140 billion by 2033, with a compound annual growth rate (CAGR) of 11.5% [13]. - The domestic market for vehicle refrigerators is expected to maintain rapid growth due to trends in electric and smart vehicles, as well as increasing consumer demand [13].