Radical Tech to establish Morocco automotive bearing base

Hangzhou Radical Energy Saving Technology (SZSE:300652) announced plans to establish a wholly-owned subsidiary in Singapore as an investment vehicle for a new production facility in Tangier, Morocco. The Morocco-based facility, a wholly-owned subsidiary of the Singaporean entity, will focus on manufacturing automotive bearings. The total investment is capped at $30 million USD. The project aims to meet overseas market demand, enhance global supply capabilities, and expand the company's international presence. The investment will be funded through the company's own capital or self-raised funds and is subject to approvals from authorities in China, Singapore, and Morocco. The company has authorized its management to handle all related matters.