Shanghai Golden Bridge InfoTech (603918.SH) plans to invest in establishing a subsidiary in Hangzhou.

Shanghai Golden Bridge InfoTech (603918.SH) announced that, based on its strategic development plan and operational needs, the company has used 20 million yuan of its own funds to establish a wholly-owned subsidiary, Jinzhu Yunqiao (Hangzhou) Technology Co., Ltd., in Hangzhou, with the company directly holding 100% of Jinzhu Yunqiao's shares. The company's controlled subsidiary, Jinqiao Yifa, used 9 million yuan of its own funds, and the company's wholly-owned subsidiary, Jinqiao Technology, used 1 million yuan of its own funds, to establish a controlled subsidiary, Jinqi Qiao (Hangzhou) Information Technology Co., Ltd., in Hangzhou, with Jinqiao Yifa and Jinqiao Technology holding 90% and 10% of Jinqi Qiao's shares, respectively. The company's investment in establishing subordinate subsidiaries in Hangzhou this time is conducive to the company's business development in East China, strengthening market expansion, enhancing the company's comprehensive strength and sustainable operating capacity, and boosting the company's core competitiveness. It has a positive driving effect on the company's future development and is in line with the company's long-term development strategy.