China New Holdings (08125.HK) will establish wholly-owned subsidiaries in Shenzhen and Zhengzhou respectively.

Wisdom Finance News APP reported that Sino-New Holdings (08125.HK) announced that the company's earlier announcement to evaluate the establishment of a wholly-owned subsidiary in mainland China to develop intelligent software and digital marketing business has now been approved by the board of directors. The group will proceed to register and establish wholly-owned subsidiaries in Shenzhen and Zhengzhou, China, respectively, both responsible for the development of intelligent software, digital marketing services, computing power business, and commercial robot research and development, among other new businesses. The new business is expected to create new sources of revenue for the group, and further enhance the group's brand influence and market competitiveness in China. The group will allocate necessary resources to support the business development and ensure that its operations comply with applicable laws and regulations after evaluation.