Changchun Up Optotech (002338.SZ) subsidiary signed a cooperation agreement on the investment and construction of the high-precision grating ruler and encoder Zhejiang R&D headquarters project.

Changchun Up Optotech (002338.SZ) announced that its holding subsidiary Changchun Yuheng Optics Co., Ltd. ("Yuheng Optics") has signed a cooperation agreement with Zhejiang Wenling Economic Development Zone Management Committee and Zhejiang Advanced CNC Machine Tool Technology Innovation Center Co., Ltd. (Zhejiang Province Advanced CNC Machine Tool Technology Innovation Center) for the investment and construction of a high-precision grating scale and encoder research and development headquarters project in Zhejiang on September 24, 2024. According to the agreement, Yuheng Optics will establish a subsidiary (Wenling subsidiary) in Zhejiang Wenling Economic Development Zone to be responsible for the sales, after-sales service, product testing and promotion, and application technology development of Yuheng Optics' grating scale, encoder, and other series of products in the machine tool equipment field in the Yangtze River Delta region. Zhejiang Advanced CNC Machine Tool Technology Innovation Center Co., Ltd. plans to invest in the Wenling subsidiary and participate in the company's construction to jointly develop the Yangtze River Delta market. Zhejiang Wenling Economic Development Zone Management Committee will leverage local machine tool enterprises and other resources to assist the Wenling subsidiary in product application demonstrations and promotions. It is reported that this comprehensive cooperation between Yuheng Optics, Zhejiang Wenling Economic Development Zone Management Committee, and Zhejiang Advanced CNC Machine Tool Technology Innovation Center Co., Ltd. aims to leverage resources from all parties to establish a presence in the core market channels in the Yangtze River Delta region. This will better meet the demand for grating sensors in the CNC machine tool industry in the region, accelerate the product market promotion process, and further expand market share.