OKE Precision Cutting Tools announced it will invest 10 million yuan of its own funds to establish a wholly-owned subsidiary, Zhejiang Ouren Cutting Tools Co., Ltd., with a 100% stake. The company will be registered in Haining, Jiaxing, Zhejiang Province, with Yuan Meihe as legal representative. Its business scope covers CNC machine tool manufacturing, cutting tool manufacturing, metal tool manufacturing, metal surface treatment and heat treatment processing, vacuum coating processing, and more. The announcement shows that this external investment does not constitute a related-party transaction or a major asset restructuring, and does not require review by the board of directors or shareholders' meeting. Zhejiang Ouren will be included in the company's consolidated financial statements.
OKE Precision Cutting Tools Co. Ltd. AInvests 10 million yuan to establish a wholly-owned subsidiary, expanding business scope.
