Xusheng Group established subsidiaries in Singapore and Thailand, investing no more than US$90 million to build production bases

In order to meet the development needs of emerging businesses, Xusheng Group announced that it will set up a wholly-owned subsidiary, Xusheng Singapore Technologies, and a wholly-owned subsidiary, Xusheng Singapore Industries, in Singapore, and set up Xusheng Group (Thailand) in Thailand, and finally invest in the construction of a production base in Thailand. The total investment this time will not exceed US$90 million, mainly used to build a production base, purchase equipment, and introduce advanced technology and talents. It is expected that this production base will mainly produce high-end equipment and new material products, which will help Xusheng Group optimize its global industrial layout and improve overall operational efficiency.