Intelligent Manufacturing (603070.SH) plans to set up a subsidiary in Saudi Arabia to engage in the production and sales of products such as ring cabinets.

Wecome Intelligent Manufacturing (603070.SH) announced that the company has decided to invest and establish a subsidiary in Saudi Arabia, mainly engaged in the production and sales of environmental cabinets and other products. The overseas investment will be carried out in collaboration with the local Saudi Arabian company AL-NAFIE METAL INDUSTRIES by Wecome Intelligent Manufacturing's wholly-owned subsidiary, Moju Electric Co., Ltd. After conducting on-site research and negotiations with the overseas joint venture partner, the Board of Directors of the company approved the establishment of the subsidiary in Saudi Arabia to promote the overseas expansion of products and brands. Recently, the registration of the overseas subsidiary in Saudi Arabia has been successfully completed.