paypalcasinosites| Siquan Xincai (301489.SZ): It is planned to establish Vietnam Sun Company and invest in the construction of heat dissipation product projects

Gelonghui May 15 丨 Siquan New Materials (301489paypalcasinosites.SZ) announced that the company would review and approve the 15th meeting of the third board of directors held on May 15, 2024paypalcasinositesThe "Proposal on Establishing Vietnam Sun Company and Investing in the Construction of Heat Disasters Products Projects" was approved. In order to effectively implement the global strategic layout and meet overseas business expansion needs, it was agreed that the company would invest and establish a wholly-owned Sun Company Vietnam Siquan New Materials Co., Ltd.(Provisional name, subject to industrial and commercial registration) and invest in the construction of cooling product projects, with a total planned investment of US$35 million, which will be used to purchase land, factory construction and decoration, purchase and construction of fixed assets, working capital, etc. The implementation of the above-mentioned investment projects still requires approval or filing by relevant government departments such as the National Development and Reform Commission, the Commerce Department, and obtaining approval or registration from the local competent authorities in Vietnam. Therefore, the company's chairman is requested to be authorized to formulate and implement specific plans and apply for investment registration, hiring agency service intermediaries, establishing Vietnamese grandson companies and overseas structures, signing land purchase and other relevant agreements or documents, and handling other matters related to this matter.