688308.SH establishes a subsidiary Zhejiang Ouren to improve the CNC tool business service chain

Zhitong Finance App News, Ouke (688308.SH) announced that in order to further deepen strategic collaboration with end customers and improve the service chain of the company's CNC tool business, the company invested 10 million yuan of its own capital to establish a wholly-owned subsidiary Zhejiang Ouben CNC Tool Co., Ltd. (“Zhejiang Ouben”), with the newly established subsidiary as the implementing entity, relying on the advantages of the Yangtze River Delta high-end manufacturing industry cluster to create a localized and efficient service platform integrating high-end precision cutting tool polishing, high-end coating services and market expansion to promote localized replacement of tools.

Zhejiang Ouren has completed industrial and commercial registration procedures and obtained a “Business License” issued by the Haining Municipal Administration of Market Supervision. This investment establishes a wholly-owned subsidiary to strategically collaborate with customers to create a localized and efficient service platform integrating precision cutting tool polishing, high-end coating services and market expansion, which helps meet the diverse needs of end customers in the management of the entire tool life cycle, and is conducive to further enhancing the company's overall competitive strength.