Subsidiary of Chengdu Haoneng Technology (603809.SH) plans to invest 300 million yuan to build an aerospace parts intelligent manufacturing center in Qingyang District, Chengdu City.

Chengdu Haoneng Technology (603809.SH) announced that, in order to meet the future development needs of the company's aerospace business, its wholly-owned subsidiary Chengdu Haoyiqiang Aerospace Equipment Manufacturing Co., Ltd. (referred to as "Haoyiqiang") signed an "Investment Agreement" with the Management Committee of the Industrial Concentrated Development Zone of Qingyang District, Chengdu City and the Huangtianba Street Office of Qingyang District People's Government on December 27, 2024. The agreement is to invest in and operate the "Aerospace Parts Intelligent Manufacturing Center" in Qingyang District, Chengdu City, primarily for the research and development, production, and sales of aerospace parts. The project has a total planned investment of 300 million RMB and aims to optimize the company's existing aerospace production lines by building the Aerospace Parts Intelligent Manufacturing Center to improve production efficiency, reduce management and logistics costs, and provide customers with more timely and high-quality services. Since acquiring Haoyiqiang in 2020, the company's aerospace business has been growing rapidly, with Haoyiqiang's revenue reaching 222 million RMB in 2023 and having sufficient orders from key customers. The implementation of this project in Qingyang District will help the company get closer to market customers, respond to customer needs quickly, and effectively reduce service and transportation costs. Building on its own land for the factory will ensure the stability and long-term development of Haoyiqiang's operating premises and enable the consolidation of scattered production sites for improved production and management efficiency, creating a comprehensive competitive advantage. This investment lays a solid foundation for the future continuous development of Haoyiqiang and aligns with the company's long-term sustainable development strategy.