Group 1 - The company plans to establish a new subsidiary in Vietnam through its controlling subsidiary, Chongqing Xinyuan Agricultural Machinery Co., Ltd., to build an agricultural machinery production base to meet the needs of overseas market expansion [1] - The construction of the Vietnam production base will be implemented in phases based on market demand and business development [1] - The total investment for the first phase is approximately 6.9444 million USD, primarily for factory renovation, equipment procurement, and working capital [1]

Group 1 - The company plans to establish a new subsidiary in Vietnam through its controlling subsidiary, Chongqing Xinyuan Agricultural Machinery Co., Ltd., to build a production base for agricultural machinery to meet the needs of overseas market expansion [1] - The construction of the Vietnam production base will be implemented in phases based on market demand and business development [1] - The total investment for the first phase is approximately 6.9444 million USD, which will be primarily used for factory renovation, equipment procurement, and working capital [1]

Group 1 - The company, Xinyuan Intelligent Manufacturing (600615.SH), aims to address the issue of industry competition with its controlling shareholder, Dongfang Xinyuan Group Co., Ltd, by establishing a new subsidiary in Vietnam for agricultural machinery production [1] - The new production base in Vietnam will be set up through the company's subsidiary, Chongqing Xinyuan Agricultural Machinery Co., Ltd, to expand its overseas business scale and meet market demands [1] - The total investment for the first phase of the Vietnam production base is approximately $6.9444 million (around 50 million RMB), which will be used for factory renovation, equipment procurement, and working capital [1]

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]

Core Viewpoint - The company XinYuan Intelligent Manufacturing announced the establishment of a new subsidiary in Vietnam to build a production base for agricultural machinery, aiming to enhance its overseas business scale and address industry competition [1] Investment Details - The total investment for the first phase is approximately 6.9444 million USD (around 50 million RMB), which will be used for factory renovation, equipment procurement, and working capital [1] - The project is expected to be completed and start production by early 2026 [1] Strategic Objectives - The investment aims to quickly establish production capabilities for the agricultural machinery series and expand channels to major customers [1] - This move is intended to lay a foundation for the company's overseas business scale [1]