On June 24th, Gelonhue reported that Dalian Friendship (000679.SZ) announced the establishment of a wholly-owned subsidiary, Wuhan Yingchi New Retail Co., Ltd. (hereinafter referred to as "Yingchi New Retail"), on June 13, 2024, to broaden the company's retail business development channels, cultivate new performance growth points, and improve business performance. In order to support the business development of Yingchi New Retail, it is planned that Yingchi New Retail will establish Wuhan Yingxin Cross-border E-commerce Co., Ltd. and Hong Kong Yingchi Trading Co., Ltd. respectively. The company will invest in the form of monetary funds, with investment amounts of RMB 10 million and HKD 10,000 respectively, and the source of funds is from the company's own funds.
The external investment and establishment of two subsidiary companies by Yingchi New Retail is a necessary requirement for its business development. After the establishment of two subsidiary companies, it can cooperate to carry out business operations quickly and efficiently. The external investment and establishment of subsidiary companies can help promote the company to launch self-operated business in the new retail mode, which is in line with the needs of the company's business development and will have a positive impact on the company's development. The source of funds for the establishment of the two subsidiary companies in this investment comes from the company's own funds, and after the establishment, they will be included in the company's consolidated financial statements and will not have a negative impact on the company's operation and financial status, nor will there be any harm to the rights and interests of the company and all shareholders.