Ltd. (603629.SH) plans to establish a subsidiary in Hong Kong, mainly engaged in integrated computing power services and other businesses.

Zhitong Finance APP News, Litong Electronics (603629.SH) announced that, in order to meet the development and layout needs of the company's computing power business, and relying on the business experience and operational capabilities the company has accumulated in the computing power field, the company plans to establish a wholly owned subsidiary in Hong Kong, Litong ChenSuan Technology Co., Ltd. (tentative name, subject to the final registered and approved name by the relevant Hong Kong authorities), with a registered capital of HKD 1 million, a planned total investment of USD 80 million (equivalent to approximately RMB 550 million), and a shareholding ratio of 100%, mainly engaged in businesses such as comprehensive computing power services.