Yantai Jereh Oilfield Services Group (002353.SZ) intends to establish a subsidiary in Dubai to conduct SMR related business.

Yantai Jereh Oilfield Services Group (002353.SZ) announced that the company plans to jointly invest with Mr. Li Weibin, Vice President of Yantai Jereh Oilfield Services Group, through its wholly-owned subsidiary Jereh Middle East Company, to establish a holding company in Dubai, UAE, to engage in the operation of Small Modular Reactors (SMR) related businesses. The registered capital of the holding company is planned to be 10 million UAE Dirhams (approximately RMB 19.07 million), with Jereh Middle East Company contributing 9.4 million UAE Dirhams in currency, accounting for 94% of the registered capital; Mr. Li Weibin will contribute 0.6 million UAE Dirhams in currency, accounting for 6% of the registered capital.