Hao Yue Nursing (605009.SH): Intends to invest up to 20 million US dollars to establish an overseas subsidiary in Egypt and build a production base.

Zhitong Finance and Economics APP News, Haoyue Care (605009.SH) announced that, according to the company's overall strategic plan and the need to expand its overseas business development, the company, together with its wholly-owned subsidiary Hainan Bairen Investment and Trade Co., Ltd. (referred to as "Hainan Bairen"), established a wholly-owned subsidiary Bairen Care Products Egypt Co., Ltd. in Egypt, with the company and Hainan Bairen contributing 1% and 99% respectively. The total amount of investment for this project is expected to not exceed 20 million US dollars (the actual investment amount is subject to the approval of the Chinese and local regulatory authorities). The investment funds will be mainly used for the establishment and operation of overseas companies, purchasing land, constructing plant buildings, purchasing equipment, and providing working capital, among other related matters.