Wanglian Security (605268.SH) intends to establish a wholly-owned subsidiary in Hong Kong.

Tencent Finance APP reported that Wangli Security (605268.SH) announced that, based on strategic planning and business needs, the company plans to invest HK$500,000 with its own funds (calculated at an exchange rate of 1:1.09 for RMB to HKD, approximately RMB 460,000. The actual investment amount is subject to approval from the relevant authorities) to establish a wholly-owned subsidiary in Hong Kong - Wangli Security (Hong Kong) Limited (tentative name, subject to final approval by local authorities in Hong Kong).