Tuopu Group invests USD 300m in Thailand production base

Ningbo Tuopu Group (SSE:601689) announced plans to invest up to USD 300 million to establish a new automotive component production base in Thailand. The project, approved at the company's Fifth Session of the Board's twentieth meeting, will be executed in phases. The investment will be channeled through Tuopu's wholly-owned subsidiary, Ningbo Tuopu Automotive Electronics, which will establish holding companies in Hong Kong - Tuopu Hong Kong Holding and Tuopu Hong Kong Investment. These entities will then oversee the creation of Tuopu Thailand Technology, the entity responsible for the production base.