Century Huatong Newly Establishes 4 Subsidiaries

Century Huatong (002602, stock bar) recently announced that it plans to use ultra-raised funds to set up four subsidiaries in Zhongshan, Wuhan, Chengdu and Yantai to expand and strengthen the main business.

Among them, Zhongshan company registered capital of 10 million yuan, the scope of business including auto parts, motorcycle parts, precision metal mold manufacturing, processing; sales of self-produced products. The registered capital of Wuhan company and Chengdu company are all 5 million yuan, mainly manufacturing auto parts and accessories. Yantai company registered capital of 36 million yuan, jointly established by Century Huatong and Shangyu Yidong Plastic Co., Ltd., the company invested 32.4 million yuan, the main auto parts and accessories manufacturing.

The company stated that this series of investments will improve the product structure and expand the market share, which will help the company to improve and expand its production technology and sales network and consolidate its position in the industry.