Shandong Weida Machinery Co.Ltd(002026) 3 issued an announcement on March 30. According to the business development needs of the company, the company decided to invest 10 million yuan in Weihai Economic and Technological Development Zone, Shandong Province to establish a wholly-owned subsidiary Weihai Weida import and Export Co., Ltd., which is mainly engaged in the import and export of goods, the import and export of technology and the sales of various products.
The company said that the foreign investment to establish a wholly-owned subsidiary is based on the needs of the company’s business development, which is conducive to the company relying on local policy support and regional advantages to cultivate new profit growth points for the company.
