Zhejiang Shuanghuan Driveline (002472.SZ)'s holding subsidiary Huandong Technology intends to invest 20 million yuan to establish a wholly-owned subsidiary.

Announcement from Zhejiang Shuanghuan Driveline (002472.SZ): The company's holding subsidiary Zhejiang Enviro Siasun Robot & Automation Joint Technology Co., Ltd. (referred to as "Enviro Technology") intends to use its own funds to invest 20 million yuan in setting up a wholly-owned subsidiary Zhejiang Enviro Technology Research and Development Co., Ltd. (temporary name, subject to final business registration). This investment is based on the future development strategy and long-term planning of the holding subsidiary Enviro Technology, and is conducive to further promoting the R&D technology capabilities of Enviro Technology, introducing multi-level R&D technical talents, layout in forward-looking emerging fields, improving the industrial layout, so as to better serve customers, and achieve long-term stable development of the company and its holding subsidiary.