(Yicai) Jan. 18 -- GoldenHome Living, a Chinese furniture maker, said it will invest up to CNY700 million (USD98.3 million) to build a factory in Thailand to make customized household products and hike its overseas capacity.

The plant will be located in Rayong and start production in stages based on demand and business progress, Xiamen-based GoldenHome announced late yesterday, without disclosing when it will become operational.

GoldenHome began expanding overseas in 2015, with businesses in North America, Australia, and Southeast Asia. It has more than 3,000 specialty stores globally, factories in Thailand covering around two hectares, and east and west central warehouses in North America.

The firm’s overseas revenue jumped 20 percent to CNY200 million in the first nine months of 2023 from a year earlier. Its total revenue rose 2.4 percent to CNY2.5 billion (USD351.1 million).

GoldenHome’s shares [SHA: 603180] fell 2.8 percent to close at CNY23.32 (USD3.25) each today. The benchmark Shanghai Composite Index rose 0.4 percent.

Editor: Martin Kadiev