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Zhongjie Automobile announced on August 27 that during the 15th meeting of its third board of directors, held on the 26th, the proposal to establish a wholly-owned subsidiary in Hong Kong was carefully deliberated and approved. The company will fund the establishment of this subsidiary with $500,000 of its own capital, and the new entity will be registered in Hong Kong with an initial registered capital of HK$10,000. The scope of business for this subsidiary will encompass general parts, automotive components, electronic products, import and export activities, as well as the provision of associated technical services and consulting. This strategic investment is intended to bolster the company's business competitiveness, broaden its developmental horizons, and positively influence its future growth trajectory.
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