Yongji Printing establishes New Zealand subsidiary for drug sales

Guizhou Yongji Printing Co., Ltd. (SSE:603058) has announced the establishment of a wholly-owned subsidiary, Yongji Health Limited, in New Zealand. The subsidiary will be managed by Y Cannabis Holdings Pty Ltd, Yongji Printing's second-tier subsidiary. Yongji Health will focus on the sale, distribution, and import of controlled pharmaceuticals. Yongji Printing cites strategic business expansion as the primary driver for this investment, aiming to grow its international presence in the pharmaceutical sector. The company acknowledges potential risks, including economic and regulatory changes, and currency fluctuations, but pledges to monitor the situation and comply with disclosure requirements. The investment decision was approved, without needing to be submitted to the company's board of directors, because it did not meet the requirements for board review.