Zhejiang Biyi Electric Appliance(603215.SH) plans to invest 2 million yuan to establish a subsidiary to provide import and export trade agency services for overseas production bases.

Zhejiang Biyi Electric Appliance (603215.SH) announced that the company plans to invest in establishing a wholly-owned subsidiary Ningbo Biyi Import and Export Co., Ltd. (tentative name) with a capital of 2 million yuan. The establishment of this wholly-owned subsidiary is based on the actual needs of the company's development, to provide necessary import and export trade agency services for the smooth operation of the company's overseas production base. The company's second-tier subsidiary, Fuhuada (Thailand) Co., Ltd., as the company's production base in Thailand, the construction of the base has entered the final stages, and at the same time, the preliminary work of machine and equipment entry and commissioning has begun, and is expected to start trial production in the first quarter of next year.