Lanyu Co., Ltd. announced that the company plans to jointly establish a holding subsidiary Chuanglian Textile in Egypt through wholly-owned subsidiaries Blue Bay Zhiyuan and Blue Hair Limited and Hinox, with a total investment of 35 million US dollars to subscribe for a registered capital of 15 million US dollars, and the remaining 20 million US dollars will be included in the capital reserve. Among them, the company invested a total of 24.5 million US dollars to hold 70% of the shares, and Hinox invested 10.5 million US dollars to hold 30% of the shares. The project plans to purchase 159,200 square meters of industrial land at a total cost of 581 million Egyptian pounds, and build a production line with an annual output of 1.45 million square meters of digitally printed textile fabrics and 10 million pieces of other textiles. The construction period is expected to be 12-18 months.

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