Long Young Electronic (301389.SZ) plans to establish a new subsidiary in Thailand called Long Yang as the main executor of the "Composite Copper Foil Production Base Construction Project".

Long Young Electronic (301389.SZ) announcement that the company plans to establish a new wholly-owned subsidiary, Long Young Electronic (Thailand) Co., Ltd. ("Thailand Long Young"), as the implementing entity for the company's fundraising project, the "Construction Project of Composite Copper Foil Production Base". The company has decided to locate the project at BP Industrial Park, Sirisothon Road, Khlong Prawet Subdistrict, North Loei District, Thailand. In a previous announcement, it was disclosed that Thailand Long Young plans to invest up to 120 million RMB of its own funds in the construction of the composite copper foil production base project in Thailand. After adding a new implementing entity and location for the fundraising project, the company will now use the excess funds raised for investments and increase the total investment amount. It is estimated that the total amount involved in the implementation of the "Composite Copper Foil Construction Project" in Thailand Long Young will not exceed 250 million RMB, including expenses for building construction, equipment procurement and installation, other construction costs, and working capital. Using its core technologies such as winding vacuum magnetron sputtering and composite coating technologies, the company plans to expand the application range of its composite copper foil products without changing its core technologies, manufacturing processes, and main equipment. In addition to lithium battery composite copper foil products, the company will also expand into the field of electronic circuit copper foil, which can be used in copper clad laminates (CCL), printed circuit boards (PCB), flexible circuit boards (FPC), and other applications in consumer electronics and automotive electronics. Furthermore, Thailand's favorable policies and strategic location have attracted many domestic and foreign electronic companies to invest and establish factories, forming a comprehensive electronic industry cluster. Taking advantage of Thailand's local electronic industry cluster will help the company expand its customer resources, meet the needs of overseas customers, and integrate deeply into the global supply chain system of customers. Therefore, establishing a portion of the composite copper foil production capacity in Thailand will enable the company to better and more effectively meet the demands of overseas customers.