Zhejiang Tenchen Controls (603085.SH) plans to invest up to 400 million yuan to establish a production base in Thailand.

Zhejiang Tenchen Controls (603085.SH) announced that the company held its fourteenth meeting of the fifth board of directors on November 18, 2024. The board approved the "Proposal on the Company's Foreign Investment", agreeing for the company to invest in the construction of a production base in Thailand with its own or self-raised funds not exceeding 400 million yuan (or equivalent foreign currency). This investment will include, but not be limited to, the purchase of land, construction of fixed assets, rental of factory buildings, and other related matters. The actual investment amount will be subject to approval from Chinese and local authorities.