Securities code: 002472 securities abbreviation: Zhejiang Shuanghuan Driveline Co.Ltd(002472) Announcement No.: 2022-009 Zhejiang Shuanghuan Driveline Co.Ltd(002472)
Announcement on foreign investment and establishment of wholly-owned subsidiaries
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
1、 Overview of foreign investment
Zhejiang Shuanghuan Driveline Co.Ltd(002472) (hereinafter referred to as “the company”) deliberated and adopted the proposal on foreign investment and establishment of wholly-owned subsidiaries at the fifth meeting of the sixth board of directors held on February 16, 2022, and agreed that the company invested 50 million yuan of its own funds to establish a wholly-owned subsidiary, Zhejiang Huanhuan Technology Co., Ltd. (tentative name, subject to industrial and commercial registration).
This foreign investment does not constitute a connected transaction, nor does it constitute a major asset reorganization as stipulated in the administrative measures for major asset reorganization of listed companies. According to the relevant provisions of the articles of association, this transaction is within the decision-making authority of the board of directors and does not need to be submitted to the general meeting of shareholders for deliberation.
2、 Basic information of investment object
1. Enterprise name: Zhejiang Huanhuan Technology Co., Ltd. (tentative name)
2. Enterprise type: limited liability company (sole proprietorship of legal person invested or controlled by non natural person)
3. Legal representative: Li Sheng
4. Registered capital: 50 million yuan
5. Registered address: No. 376, Gaoxin West 2nd Road, Tongxiang Economic Development Zone
6. Business scope: service consumption Siasun Robot&Automation Co.Ltd(300024) manufacturing; Special operation Siasun Robot&Automation Co.Ltd(300024) manufacturing; AI hardware sales; General parts manufacturing; Machining of mechanical parts and components; Smart home consumer equipment manufacturing; Digital home product manufacturing; 5g communication technology service; Import and export of goods (except for items subject to approval according to law, carry out business activities independently according to law with business license).
7. Ownership structure: the company holds 100% equity.
8. Mode of contribution: the capital source of this investment is the company’s own capital, which is contributed in the form of monetary capital. The above contents shall be subject to the industrial and commercial registration.
3、 Purpose, existing risks and impact on the company of foreign investment
(I) purpose and impact of foreign investment
Over the years, the company has been committed to the R & D, design and manufacturing of mechanical transmission gears and related parts, and has a deep accumulation in R & D capacity, process level and production and manufacturing. In order to promote the company’s business development and enrich its product pedigree, through this investment, the company will actively carry out the R & D and manufacturing of the pinion and its actuator assembly, adopt the mode of going hand in hand with the actuator assembly, explore business opportunities in the fields of service Siasun Robot&Automation Co.Ltd(300024) , smart home, smart office, smart medical and so on, and give full play to the synergy, Further deepen and strengthen the main business.
The capital of this investment comes from the company’s own funds and will not affect the normal operation of the company’s production and operation activities. This investment is the need of the company’s strategic planning, has a positive impact on the company’s long-term development and strategic layout, and will not have a significant impact on the company’s financial and operating conditions.
(II) possible risks
The establishment of a wholly-owned subsidiary by this investment still needs to go through the registration formalities with the administrative department for Industry and commerce. After the establishment of a wholly-owned subsidiary, there may be macroeconomic, market changes, operation management and other risks in the operation process. The company will continue to promote its wholly-owned subsidiaries to improve the corporate governance structure, improve internal control, and actively prevent and respond to possible risks in the process of development.
It is hereby announced.
Zhejiang Shuanghuan Driveline Co.Ltd(002472) board of directors February 16, 2022
