Shenzhen Zowee Technology (002369.SZ) plans to contribute capital to establish a wholly-owned subsidiary, Zowee Nanchang.

Shenzhen Zowee Technology (002369.SZ) announced that, in accordance with the company's overall development plan and to promote its business development, the company plans to invest in and establish a wholly-owned subsidiary, Zowee Intelligent Manufacturing (Nanchang) Technology Co., Ltd. (tentative name, subject to approval by the registration authority, hereinafter referred to as "Zowee Nanchang" or the "Target Company"), with a registered capital of RMB102 million (including RMB42 million in monetary contribution and RMB60 million in fixed asset contribution).