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]

北京商报讯（记者 张君花）8月15日，上海凤凰发布公告称，公司于2025年4月28日召开董事会，审议 通过在保加利亚设立控股子公司的议案。公司全资子公司上海凤凰自行车有限公司通过其香港全资子公 司与保加利亚PD1 Invest Ltd共同出资设立合资公司，注册资本为1000万欧元，其中公司出资550万欧 元，占55%股权。2025年8月14日，公司完成了保加利亚控股子公司的设立登记手续。新设立的控股子 公司Phoenix Bicycle Europe AD主要业务为中高端电动自行车的研发、销售与售后服务，旨在拓展海外 市场，提升公司在欧盟区域的市场影响力。尽管设立此子公司将为公司未来业务发展提供支撑，但由于 国际政治形势复杂及当地法律法规与国内存在差异，运营中可能面临一定的管理和市场风险，预计短期 内不会对公司经营业绩产生重大影响。 ...