August 8 – Zhejiang Century Huatong Automotive Part (002602) plans to form four subsidiaries in Zhongshan, Wuhan, Chengdu and Yantai cities, reports Shanghai Securities News, citing a company filing.

The new company in Zhongshan has registered capital of 10 million yuan and will produce, process and sell automobile components, motor components and high precision models. The Wuhan subsidiary has registered capital of five million yuan and mainly produces car components.

The Yantai subsidiary is a joint venture with Shangyu Yidong Plastics Co., Ltd. and has registered capital of 36 million yuan. It will produce car parts. The partner firm will contribute 32.4 million yuan to the joint venture.

Source:CapitalVue