Hangzhou Gaoxin Material Technology announced on August 18, 2026 that its wholly-owned subsidiary Hangzhou Shuangfan New Material Technology has completed industrial and commercial registration. The subsidiary has registered capital of 30 million yuan, with Guo Guangqiang as legal representative and an establishment date of August 18, 2026. It will focus on polymer materials for wire and cable, with a business scope covering the manufacture and sale of rubber products, plastic products and synthetic materials, research and promotion of new material technologies, and import and export of goods and technologies. The matter was approved at the 26th meeting of the company's fifth board of directors on August 4, 2026. The company said that after the new subsidiary is established, an efficient coordination mechanism between parent and subsidiary must be built. If coordination and management are inadequate, operational efficiency may be affected. The company will strengthen internal controls, improve coordination mechanisms, enhance risk monitoring, and ensure smooth business continuity.
Hangzhou Gaoxin Rubber & Plastic Materials Co LtdCompany establishes wholly-owned subsidiary, a capital event with potential operational risks noted.
Newly established subsidiary, impact uncertain as it is just registered.
