Hongfa(SH:600885) Shang Hai Zheng Quan Bao·2026-01-12 18:13Group 1 - The company plans to establish a joint venture named Hongfa VinFast Electronics Co., Ltd. in Vietnam, with a total investment of 1,350 billion VND (approximately 37.67 million RMB) [2][5] - Xiamen Hongfa Acoustics Co., Ltd. will contribute 1,080 billion VND (approximately 30.13 million RMB), accounting for 80% of the total investment, while VinFast will contribute 270 billion VND (approximately 7.53 million RMB), accounting for 20% [5][9] - The investment aims to deepen international cooperation and localize production, responding to VinFast's strategy of localizing its supply chain [13] Group 2 - The investment has been approved by the boards of both the company and its subsidiary, and does not require further shareholder approval [6] - The funds will primarily be used for the construction, production, and operation of the joint venture, including leasing facilities, purchasing equipment, and working capital [5][11] - The joint venture will focus on local production of automotive components, enhancing the company's international business development and brand influence [13]