Core Viewpoint - The company, Xinyuan Intelligent Manufacturing (600615.SH), is addressing the issue of industry competition with its controlling shareholder, Dongfang Xinyuan Group, by establishing a new production base in Vietnam for agricultural machinery, which will support its overseas business expansion [1] Group 1 - The company plans to set up a subsidiary in Vietnam through its holding subsidiary, Chongqing Xinyuan Agricultural Machinery Co., Ltd., to build an agricultural machinery production base [1] - The investment for the first phase of the Vietnam production base is approximately $6.9444 million (around 50 million RMB), based on an exchange rate of 1:7.2 [1] - The investment will be used for factory renovation, equipment procurement, and working capital, with the actual investment amount subject to approval by local authorities in China and Vietnam [1]
鑫源智造:拟在越南新设子公司建设农通机越南生产基地