Licheng Industrial (001218.SZ) plans to establish a subsidiary in Hong Kong to expand its overseas market.

China Economic News App announces that Licheng Industrial (001218.SZ) intends to establish a wholly-owned subsidiary named "Lichen Aowei International Trading Co., Ltd." (tentative name) in Hong Kong, China using its own funds. The foreign investment amount for this project is $1 million. This move will be beneficial in further expanding the overseas market.