XGD advances smart manufacturing base with new subsidiary

Shenzhen XGD announced the establishment of Dongguan XGD Technology Co., Ltd., a wholly-owned subsidiary with a registered capital of RMB 50 million. This move supports the company's planned "Smart Manufacturing and Artificial Intelligence Headquarters Base" project, initially approved by the board in November 2024. Dongguan XGD Technology is 60% directly held by Shenzhen XGD and 40% by its wholly-owned subsidiary, XGD International. The subsidiary's business scope includes manufacturing of currency-specific equipment and commercial cryptographic products, development of AI and computer software, and market-related services. XGD noted that land acquisition for the project is subject to uncertainties related to the public bidding process. The company stated it will comply with disclosure requirements and cautioned investors regarding potential risks.