Zhejiang Tenchen Controls (603085.SH) plans to invest up to 50 million yuan in the initial phase to set up overseas subsidiaries in Thailand, Malaysia, and other countries.

Zhejiang Tenchen Controls (603085.SH) announced that the company plans to establish a new Singapore company as the investment main body, set up wholly-owned subsidiaries in Thailand, Malaysia, and the United States, and invest in the construction of production bases. The initial investment for this project is planned to not exceed 50 million RMB (or equivalent in foreign currency), including but not limited to purchasing land, purchasing fixed assets, and other related matters. The actual investment amount will be subject to approval from the Chinese and local regulatory authorities. Establishing overseas subsidiaries will better promote the expansion of the company's international business and respond to the needs of overseas customers, which will help further improve the industrial layout.