Zhixin Corporation (603352.SH) plans to invest no more than 1.1 billion yuan to build an automotive spot welding parts project.

According to the announcement of Zhixin Group (603352.SH), in order to provide support for customers such as LEAPMOTOR in the East China region and surrounding areas, the company plans to increase the capital of its wholly-owned subsidiary Jinhua Zhixin Technology Co., Ltd. ("Jinhua Zhixin"), which will serve as the main entity for the investment and construction of the "Automobile Spot Welding Parts Project". The total investment amount of the project will not exceed 1.1 billion yuan. It is reported that this project is a capacity expansion and industrial upgrading investment project implemented by the company focusing on automobile lightweight spot welding parts and automobile seat frames. The project mainly targets the new energy market such as LEAPMOTOR, and by constructing related production and quality testing facilities, it will support the company's business development in the field of large lightweight automobile parts and seat frames.