Shandong Haihua announced that the board of directors of the company reviewed and passed a bill to invest in the establishment of a wholly-owned subsidiary. In order to meet business development needs, exert large-scale procurement effects, improve procurement bargaining capabilities, and enhance supply chain stability, the company plans to invest its own capital to establish a wholly-owned subsidiary, Shandong Haihua Insurance & Supply Smart Supply Chain Co., Ltd., with a registered capital of 30 million yuan.

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