XUELONG(SH:603949) Shang Hai Zheng Quan Bao·2025-12-10 18:46Core Viewpoint - The company Snow Dragon Group plans to establish a wholly-owned subsidiary, Ningbo Snow Dragon Aluminum Magnesium Technology Co., Ltd., with a registered capital of 100 million RMB to enhance its vertical integration in the die-casting product segment and reduce reliance on external processing [1][3][4]. Group 1: Investment Overview - The investment involves setting up a wholly-owned subsidiary with a registered capital of 100 million RMB, funded by the company's own resources [2][6]. - The establishment of the subsidiary has been approved by the company's board of directors and does not require shareholder approval [3][5]. Group 2: Strategic Intent - The investment aims to control the supply chain of core die-casting components, improve production stability and efficiency, and optimize cost structures [3][10]. - The subsidiary will leverage existing technological expertise and industry resources to expand into external markets for aluminum and magnesium die-casting products, moving beyond solely supporting the parent company [3][10]. Group 3: Company Structure and Management - The new subsidiary will be a limited liability company located in Ningbo, with its operational scope including the manufacturing of aluminum and magnesium die-casting parts, automotive components, and related research and development [7][8]. - The subsidiary will not have a board of directors but will have an executive director appointed by the shareholder, with management personnel selected from the parent company or hired externally [8]. Group 4: Financial Impact - The investment is expected to be included in the company's consolidated financial statements but will not significantly impact the company's financial status or operational results in the current fiscal year [10].