Jiangsu New Yangzi Shipbuilding Co., Ltd. announced that it has entered into an agreement with Shanghai Zhuoran Engineering Co., Ltd. and Zhuoran Jinjiang Equipment Manufacturing Co., Ltd. to incorporate a new subsidiary, Jiangsu Zhuoran Yangzijiang Energy Equipment Co., Ltd. in the People's Republic of China with a registered paid-up capital of RMB 30 million. This investment is in line with the Group's strategy to diversify its offerings beyond its core shipbuilding business and it can supplement the existing Group's business positively.