Zhongtian Technology (600522.SH) plans to invest $80 million to establish a wholly-owned subsidiary in Saudi Arabia.

Zhito finance and economics app news, Zhongtian Technology (600522.SH) announced that in order to further improve the company's global strategic layout, promote the localization construction of marine and power businesses in the Middle East region, be closer to customer needs, and enhance the company's overall competitiveness in the local market, the company plans to invest in a wholly-owned subsidiary "HAITENG HONGFAN PTE.LTD (Singapore)" through its wholly-owned subsidiary "ZTT HONGKONGLIMITED" (referred to as "Hong Kong Company") to establish a wholly-owned subsidiary in Saudi Arabia. The subsidiary is tentatively named ECO MARINER COMPANY (Chinese name: , referred to as "Saudi Company"), and the company type is a limited liability company with a total investment amount of 80 million US dollars, to be funded by the company's own funds. After this investment is completed, the Singapore company will directly hold 100% equity of the Saudi company, and the company is the ultimate shareholder holding 100% of the Saudi company.