(Yicai) Dec. 13 -- Chunguang Technology, a Chinese maker of hoses used in vacuum cleaners, will invest CNY184 million (USD25.6 million) to set up a factory in Vietnam to adjust to global supply chain trends.

Chunguang will establish a unit to build and run its own plant in the Southeast Asian country to form a stable foundation to expand operations instead of renting a production facility, the Jinhua-based firm announced today.

The goal is to keep up with the continuous market development of electrical cleaning equipment overseas and future demand, the firm said. Besides the rented Vietnam base, the company has another offshore plant in Malaysia.

In the first half, the Chinese firm earned CNY892 million in revenue, rising by 29 percent from a year ago, while its net profit slipped by 37 percent to CNY33.6 million (USD4.7 million), per its interim report.

Editor: Emmi Laine