Guangdong Hongtu Technology (002101.SZ) plans to build a production base in Thailand to undertake the export business of interior and exterior panels.

Guangdong Hongtu Technology (002101.SZ) announced that the board of directors has approved the "Proposal to Invest in Establishing a Subsidiary and New Production Base in Thailand", agreeing to have its wholly-owned subsidiary Siwei Wanji (Guangzhou) Auto Parts Co., Ltd. (referred to as "Siwei Wanji") and Guangdong Hongtu Technology (Hong Kong) Trading Co., Ltd. (referred to as "Hong Kong Hongtu") as the investment entities to establish a wholly-owned subsidiary in Thailand and to build a new production base there, with an investment amount not exceeding 95 million yuan. It is reported that the production base will be used to undertake the export business of the company's interior and exterior panel sectors. This investment will help further expand overseas markets and establish an independent and controllable overseas production capacity system for the interior and exterior panel sectors.