Announced on June 7, 2016, the 32nd meeting of the fourth board of directors of the company reviewed and approved the “Proposal on the Establishment of German Companies by Subsidiaries for Foreign Investmentâ€, the company's holding subsidiary Shenzhen Manta Intelligent Technology Co., Ltd. (hereinafter referred to as “Manta Smart†is planning to set up Wingsland Technology Gmbh (hereinafter referred to as “German Companyâ€) in Düsseldorf, North Rhine-Westphalia, Germany with a capital of US$500,000.
The establishment of the German company will facilitate the internationalization of the company's drone-related business, accelerate the construction of a marketing service center in the European region, improve the response speed of local technology, products and services, and improve customer service quality and brand image. Attracting international high-end talents will further promote the rapid growth of the company's overseas business.
In addition, the funds for the establishment of the German company are all derived from Manta Smart's own funds, which will not have a major impact on the company's financial status and operating results in the short term.
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