Naipu Mining Machinery (300818.SZ) plans to increase the capital of its subsidiary in Peru by 50 million US dollars.

Naipu Mining Machinery (300818.SZ) announced that the company invested $100,000 in the establishment of Naipu Peru in Peru in early 2016, and increased the investment by $910,000 in 2016 to recruit employees, lease offices, and establish a marketing center in Peru. In 2018, the company further increased the investment in Naipu Peru by $1.38 million to purchase office equipment, conference equipment, lease employee dormitories, and expand the scale of the marketing center in Peru. In 2023, the company plans to invest $30 million in Naipu Peru to purchase land, build factories, and establish its future production base in Peru. As of the announcement date, the company has already paid $7.6649 million out of the $30 million investment in Naipu Peru in 2023 for the purchase of 7.23 hectares of land. The remaining amount is not sufficient to cover the costs of later construction, housing renovation, equipment procurement, etc. The company plans to increase the investment in Naipu Peru by $50 million using self-raised funds to accelerate the construction of the company's production base in Peru, optimize its international layout, explore international markets, and better implement the company's international development strategy.