上海凤凰企业（集团）股份有限公司 关于设立海外控股子公司的进展公告

Group 1 - The company has approved the establishment of a joint venture in Bulgaria to enhance its overseas business expansion and mitigate trade policy risks [2][4] - The joint venture, named Phoenix Bicycle Europe AD, has a registered capital of approximately 10 million euros and will focus on the research, assembly, and sales of mid-to-high-end electric bicycles [2][4] - The establishment of the joint venture has received necessary approvals from relevant domestic authorities, including the Shanghai Municipal Development and Reform Commission [3] Group 2 - The joint venture aims to leverage the company's technological, brand, and channel advantages to penetrate the EU market more effectively and enhance its global market influence [4] - The company anticipates that the joint venture will provide strong support for its future bicycle business development, although it may not have a significant immediate impact on overall performance [4][5]