Hunan Hualian China Industry (001216.SZ) plans to invest up to $200 million in building a daily-use ceramic production project in Vietnam for Huacai.

Hunan Hualian China Industry (001216.SZ) announced that the company plans to establish wholly-owned subsidiaries in the Cayman Islands and Singapore as holding companies, and then through these holding companies in Vietnam to establish a subsidiary to invest in and construct the Huacai Vietnam daily ceramic production project. The total investment amount is expected to not exceed 200 million US dollars, including but not limited to purchasing land, constructing fixed assets, and other related matters. This proposed foreign investment in establishing a subsidiary in Vietnam to invest in and construct the Huacai Vietnam daily ceramic production project is an important part of the company's international strategic planning. Vietnam has relatively low labor costs and local production resources, which can effectively reduce production costs and enhance the market competitiveness of the company's products. As one of the emerging economies in Southeast Asia, Vietnam has a good geographical location and port facilities, making it easier to export products to Europe, the United States, and other overseas markets, benefiting the company in better serving customers and further increasing market share.