Expanding into the international market, Beite Technology plans to invest no more than 550 million yuan to build a manufacturing base in Thailand.

Beite Technology ( 603009 ) Announced on the evening of April 7th that, in order to continuously expand business, respond to customer needs, and plan project development comprehensively, the company intends to increase its investment in the Thailand production base by no more than 550 million RMB or equivalent foreign currency (the actual increase will be based on the approved amount by Chinese and local authorities).

Previously, Beite Technology announced on the evening of March 28th that, to better meet the needs of the company’s emerging business development and to extend and expand the existing industrial chain, the company plans to establish a wholly-owned subsidiary, Beite Singapore Investment, and a wholly-owned grandchild company, Beite Singapore Technology, in Singapore. These two companies will each contribute 1% and 99% respectively to establish Beite Technology (Thailand) in Thailand, with the final investment amount not exceeding 50 million USD, funded by the company’s own or self-raised funds.

Beite Technology disclosed that the increased investment amount this time will be used for, but not limited to, overseas subsidiary operations, factory expansion projects, decoration and installation works, procurement of production equipment, and working capital. The company believes that this additional foreign investment aligns with its strategic layout and business development needs, is an important measure to extend and expand the existing industrial chain, and will help further expand the international market to better meet overseas customer orders.

“Operations of overseas subsidiaries at all levels will be included in the company’s consolidated financial statements, which will positively contribute to the company’s performance improvement and profit growth.” Beite Technology emphasized that the funds for this additional foreign investment come from self-owned funds or bank loans, and will not adversely affect the company’s main business, ongoing operations, cash flow, or asset status. There is no situation that harms the interests of the company and all shareholders.

It is understood that this additional foreign investment still requires filing or approval from relevant domestic and foreign investment authorities, commerce departments, and other government agencies. There is uncertainty regarding whether the relevant filings or approvals will be obtained, as well as the timing of such approvals.

Additionally, Beite Technology stated that the construction plan, construction cycle, and scale of this additional foreign investment may be adjusted according to changes in external environments and business development needs. Due to significant differences in political, legal, economic, and cultural environments between foreign countries and regions and China, there may be certain operational and management risks during the foreign investment process. The progress and effectiveness of the investment may not meet expectations, and there is uncertainty about whether the expected results will be achieved.

Currently, Beite Technology’s main business involves the research and development, production, and sales of automotive parts, specifically including chassis components, aluminum alloy lightweight parts, and air conditioning compressors and integrated thermal management. According to the company’s 2025 performance forecast announcement, it is expected that the company will achieve a net profit of 115 million to 125 million RMB in 2025, representing a year-on-year increase of 60.98% to 74.98%.

Regarding the performance forecast increase, Beite Technology stated that in 2025, China’s automotive industry will demonstrate strong resilience and vitality, with annual production and sales reaching new historical highs. Against this backdrop, the company’s various business segments will develop in coordination, leading to sustained growth in overall operating revenue. With further scale effects, combined with ongoing internal management optimization and cost control measures, the company’s profitability is expected to steadily improve.