Gelonghui 10 May, adopted shares (301122Horseshoepokerroom.SZ) announcementHorseshoepokerroomThrough CMTINVESTMENT (SINGAPORE) PTE, a wholly owned subsidiary of SingaporeHorseshoepokerroomLtd. (referred to as "CMT Investment") as the main investor, to set up a joint venture company CMTINDUSTRY (SINGAPORE) PTE.LTD. (referred to as "CMT Industrial") with RIXTRONMEDICALTRADINGCO.L.L.C in Singapore, and through the joint venture company CMT Industrial to set up a company in Cambodia, CamedicalTechnology (Cambodia) Co.,Ltd. (referred to as "Cambodian Company"). According to business development and project implementation needs, Cambodian companiesHorseshoepokerroomThe total investment is not more than $15 million (the company accounts for 70%, that is, no more than $10.5 million).
The establishment of holding subsidiaries in Singapore and Cambodia is a decision that the company needs to make in combination with strategic planning and business development, which is conducive to preventing global trade risks and enhancing the company's anti-risk ability. it is an important measure for the company to continuously deepen the layout of the global development strategy and help to enhance the overall competitiveness of the company. The capital source of this foreign investment is contributed by its own funds, which will not have a significant impact on the financial situation and operation of the company. After the establishment of the above-mentioned overseas subsidiary, its operation will be included in the scope of the company's consolidated financial statements, and there will be no harm to the interests of the company and all shareholders.
