Core Viewpoint - The company plans to invest 150.38 million yuan in establishing a smart furniture production base in Cambodia through a wholly-owned subsidiary in Hong Kong, aiming to enhance its global production capacity and competitiveness in the smart furniture market [1][3]. Group 1: Investment Details - The total investment for the Cambodia smart furniture production base project is 150.38 million yuan, with 123.04 million yuan allocated for construction and equipment, and 27.34 million yuan for working capital [1]. - The project will have an annual production capacity of 200,000 smart electric sofas, 100,000 smart electric beds, and 200,000 smart electric sofa accessories upon completion [1]. Group 2: Strategic Objectives - The investment aims to expand overseas production capacity, optimize global industrial layout, and enhance the company's ability to respond to international trade barriers [3]. - The project is expected to better meet the demand for smart furniture products in North America and global markets, thereby improving the company's overall competitiveness and profitability [3].

Core Viewpoint - The company plans to use 150.38 million yuan from its initial public offering to establish a wholly-owned subsidiary in Hong Kong and subsequently a wholly-owned subsidiary in Cambodia for the "Cambodia Smart Furniture Production Base Project" [1] Group 1: Investment Details - The registered capital for the Hong Kong subsidiary is set at 21.20 million USD (approximately 150.38 million yuan), with the same amount allocated for the Cambodian subsidiary [1] - The investment aims to expand overseas production capacity, optimize global industrial layout, and enhance the ability to respond to international trade barriers [1] Group 2: Market Demand and Strategic Goals - The project is designed to better meet the demand for smart furniture products in North America and global markets [1] - The investment is expected to improve the company's overall competitiveness and profitability, positively impacting future business development [1] Group 3: Regulatory and Approval Process - The project will require compliance with relevant national regulatory authorities for investment filing or approval and will need to be submitted for shareholder meeting approval [1]