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Ningbo Gaofa Automotive Control System To Continue Leasing Agreement With Controlling Shareholder
Ningbo Gaofa Automotive Control System (603788.SH): Continue leasing the factory of the controlling shareholder.
Gelonghui, January 10th | Ningbo Gaofa Automotive Control System (603788.SH) announced that the leasing agreement originally signed with its controlling shareholder, Ningbo Gaofa Holdings Co., Ltd., will expire on January 19, 2025. On January 10, 2025, the company's fifth Board of Directors held its eleventh meeting to review and approve the proposal regarding the continued leasing of the factory from its controlling shareholder and the related party transaction. The company and its wholly-owned subsidiary, Ningbo Gaofa Industrial Machinery Co., Ltd. (hereinafter referred to as "Gaofa Industrial Machinery"), respectively, will continue to lease from its controlling shareholder, Ningbo Gaofa Holdings Co., Ltd. (hereinafter referred to as "
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Ningbo Gaofa (603788.SH): intends to establish a wholly-owned subsidiary in Singapore and invest in the construction of a production base in Malaysia.
Ningbo Gaofa (603788.SH) announced on September 2nd that in order to actively expand the international market and implement the "going global" strategy, it plans to establish a wholly-owned subsidiary in Singapore and invest in the construction of a production base in Malaysia (a subsidiary). The planned total investment for this project is not more than $30 million, including but not limited to the purchase of land, construction of fixed assets, and other related matters. The actual investment amount is subject to the approved amount by the relevant regulatory authorities.
Ningbo Gaofa Automotive Control System 2024 Semi-annual Report