Harbin Sayyas Windows (301227.SZ) plans to establish a new subsidiary in the United States with a capital not exceeding 1.5 million US dollars.

Announcement from Harbin Sayyas Windows (301227.SZ): The company's wholly-owned subsidiary, Harbin Sayyas Windows (Beijing) Co., Ltd., intends to use its own funds to establish a wholly-owned subsidiary, SAYYAS WINDOWS & DOORS INC (tentative name), in the United States. After the registration of the US subsidiary is completed, the company will orderly terminate the operation of the same-named subsidiary in Oregon and apply for deregistration. This investment will be in the form of monetary contributions, with a total investment amount not exceeding 1.5 million US dollars, all to be subscribed by the Beijing subsidiary. After registration, the Beijing subsidiary will hold 100% equity of the US subsidiary. The announcement indicated that the company's establishment of a US subsidiary through its Beijing subsidiary is mainly based on further research and analysis of the US regional market, and strategic adjustments to the company's structure in the US market.