Sailun Group (601058.SH) plans to invest $152 million to build the second phase of the Cambodia Gongbu Economic Zone project.

Sailun Group (601058.SH) announced that the company plans to invest in the construction of the "Cambodia Gongbu Economic Zone Project." Most of the land leasing work for the project has been completed. To better meet the needs of globalization strategy development and optimize the supply chain system, the company plans to invest in the construction of the "Cambodia Gongbu Economic Zone Project (Phase II)" with a total investment of $152 million USD. The project will be implemented by the company's wholly-owned subsidiary, Gongbu Bay Investment, established in Cambodia. The company has tire production bases in Vietnam, Cambodia, Indonesia, Mexico, and Egypt, making it the largest Chinese tire company in terms of overseas production capacity. Once the "Cambodia Gongbu Economic Zone Project (Phase II)" is completed, it will further expand the company's global industrial layout and strengthen and enhance its global supply chain system. By cooperating with enterprises in the economic zone, a more closely-knit industrial chain ecological system can be established to achieve effective allocation and utilization of resources, thereby enhancing the company's overall operational efficiency and international competitiveness, and strengthening its comprehensive development capabilities.