The investment will not exceed $1 million, and Ying Fei will set up a subsidiary in Mexico.

Yesterday (25) evening, the Limited by Share Ltd (Hangzhou) Limited by Share Ltd (hereinafter referred to as "the company", "Ying Fei Electronics") announced that in order to promote the global development strategy and the global layout of products, R & D and market, further enhance the brand influence and core competitiveness of the company's products in North America and the world. To expand the company's capacity, expand the Americas market, close to customers and meet its requirements for localization of supporting enterprises, the company plans to invest in a subsidiary in Mexico with a wholly owned subsidiary, OSMANTHUS HOLDING LIMITED (Cayman subsidiary), with a total planned investment of not more than US $1 million (equivalent to RMB 6 million 950 thousand yuan). Among them, the company subscribed 99%, OSMANTHUS HOLDING LIMITED subscribed 1%.

According to the announcement, the name of the investment subsidiary is INVENTRONICS Mexico S.A.DE C.V. (the name of the Mexico based joint stock company is based on the final approval and registration, hereinafter referred to as "Mexico subsidiary"), which covers the production of switching power supply and related electronic products, warehousing, distribution and sale of self-produced products. Sales, technical services and after sales support (based on the actual registered business scope of Mexico subsidiary).

Ying Fei said that the investment in the establishment of a subsidiary in Mexico, in line with the company's strategic development direction, is conducive to accelerating the company's global strategic layout, and has a positive impact on the company's future revenue and performance.

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