Gold cup Electric Apparatus(002533.SZ) plans to invest approximately 700 million yuan to build an electromagnetic wire production base in the Czech Republic.

Gold cup Electric Apparatus (002533.SZ) announced that, in order to further enhance the company's service response capability to European and other overseas markets, improve the brand awareness and overall competitiveness of the company in the international market, and advance its globalization strategy, the company plans to invest approximately 700 million RMB in the construction of an electromagnetic wire production base in the Czech Republic using its own funds and a combination of financing. This plan to establish an electromagnetic wire production base in the Czech Republic will enable the company to quickly respond to the near-demand for electromagnetic wire products from European customers, seize the huge market demand brought by the upgrading and transformation of the European power grid, and the fields of new energy power and new energy vehicles. This will further consolidate and leverage the company's comparative advantages in electromagnetic wire products globally, as well as lay a foundation for participating in global competition and internationalization.