Ningbo Fangzheng Automobile Mould (300998.SZ) plans to establish a subsidiary in the United States with an investment of 300,000 US dollars to expand and maintain the market in the United States.

Announcement from Ningbo Fangzheng Automobile Mould (300998.SZ): The company plans to invest 30 million RMB in its own funds to establish a wholly-owned subsidiary Shanghai Jinkimu Investment Co., Ltd. (referred to as "Shanghai Jinkimu") to coordinate the company's external investment business and regulate its external investment activities. At the same time, the company plans to invest 300,000 US dollars in its own funds to establish a wholly-owned subsidiary FangZheng Tool Group INC. in the state of Michigan, USA, in order to expand and maintain the American market.