Sunwoda Electronic (300207.SZ) subsidiary plans to indirectly invest no more than $6.75 million in Positec Inc.

Sunwoda Electronic (300207.SZ) announced that its wholly-owned subsidiary, Hong Kong Xinwei Electronics Limited (referred to as "Hong Kong Xinwei"), intends to sign a "Partnership Agreement" with general partner Xinghang Capital and jointly invest in Rockets Capital Mars LP. The partnership enterprise intends to contribute a maximum total capital of $25 million, with limited partner Hong Kong Xinwei intending to contribute no more than $6.75 million; the remaining funds will be contributed by other partners. As of the date of this announcement, the confirmed partners have all pledged their contributions in USD cash. It is reported that the entire investment of the partnership enterprise set up this time will be invested in Positec Inc. Positec Inc. is a high-tech company dedicated to the electrification of tools and Siasun Robot & Automation, owning international high-end brands. Its products cover professional power tools, household power tools, garden tools, Siasun Robot & Automation services, and other household products. The company is committed to providing global users with green, environmentally friendly, and intelligent products and services.