China Saftower (08623) announced that the group recently established an indirect subsidiary company, mainly engaged in software development, technology services, and operation of non-automotive engine charging facilities.
China Saftower (08623) announced that the group recently established an indirect subsidiary company, mainly engaged in software development, technology services, and operation of non-automotive engine charging facilities.
The new subsidiary is named Fuzhou Dasong Internet of Things Technology Co., Ltd., with shareholders being the company's indirect wholly-owned subsidiary Hainan Saftower Yi Charging Technology Co., Ltd. and Song Chunsen.
The announcement stated that the establishment of the subsidiary company is intended to assist the group in rapidly and comprehensively expanding its business scope and bringing in new profitable growth.
The Song Chunsen team has market resources that manage millions of users with regionalized management and industry experience in managing cloud platforms based on big data and artificial intelligence technology. This cooperation is expected to jointly build an innovative cross-regional platform for operating millions of users in the charging station industry, with a focus on smart charging stations and Internet of Things, horizontally optimizing the peer market, vertically enhancing the development of new markets, and accelerating the layout of the national non-motor vehicle charging market, providing the industry and end users with safer, more efficient, and convenient smart charging equipment and operating networks.
The establishment of Fuzhou Dasong Internet of Things Technology Co., Ltd. is a strategic move for the group, in line with the goal of expanding business operations and strengthening profitability. With the expertise and resources of its partners, the joint venture is ready to seize the emerging opportunities in the non-automotive charging industry. The board of directors has confidence that this collaboration will drive significant growth and create value for the group and its shareholders.