China Automotive Engineering Research Institute (601965.SH) plans to invest up to 900 million yuan in establishing a wholly-owned subsidiary, Zhongjian Automobile (Shenzhen) Evaluation Technology Company.

China Automotive Engineering Research Institute (601965.SH) announced that in order to seize the development opportunities in the post-market technical services of new energy vehicles, and to expand the company's development track, China Automotive Engineering Research Institute plans to invest not more than 900 million yuan of its own funds, bank loans, or other self-raised funds in the establishment of a wholly-owned subsidiary. The subsidiary will mainly engage in automotive after-market technical services, new energy special detection equipment products, and industry services. The investment target is named Zhongjian Automobile (Shenzhen) Evaluation Technology Co., Ltd. (tentative name, subject to the actual registration with the industrial and commercial authorities).