Guangzhou Jinzhong Auto Parts Manufacturing (SHE:301133) completed the establishment of a subsidiary in Thailand after getting its registration certificate, according to a Shenzhen Stock Exchange filing on Thursday.
The Chinese auto parts maker invested $20 million in its establishment.
The subsidiary, Nage Auto Parts Manufacturing (Thailand), has a registered capital of 5 million Thai baht and will produce automobile parts.
Jinzhong owns 99% of Nage Auto Parts' shares and the 1% is held by Jinzhong's unit, Jinzhong (USA) Auto Parts Manufacturing, the filing said.
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