MeiG Smart Technology (03268) plans to invest 300 million yuan in an AI research and development and advanced manufacturing industry project and has signed an investment agreement.

MeiG Smart Technology (03268) announced that on April 15, 2026, the company signed an investment agreement with the Shanghai Shibei Hi-Tech Technology Development Zone in Nantong. As the investor, the company will invest in and construct AI research and advanced manufacturing projects within the Shanghai Shibei Hi-Tech Technology Development Zone, including the development of high computing power AI modules, ASIC servers, high computing power car-mounted SIP modules, intelligent products, 5G+AIoT modules, and the establishment of a research and development center for these areas, as well as a pilot manufacturing base utilizing advanced packaging technology, with a total investment of 300 million RMB. According to the investment agreement, the company will acquire the project construction land through public auction in accordance with the law. The land area is approximately 46 acres, designated for industrial use, with a land use period of 30 years. The AI research and advanced manufacturing project is expected to achieve the following operational goals after production: sales target - within five years of production, the cumulative taxable sales amount should not be less than 2 billion RMB, striving to achieve a taxable sales target of over 20 million RMB by 2029, and aiming to achieve an annual taxable sales amount of no less than 1.2 billion RMB by 2032. Honor goal - by 2032, obtain recognition as a national high-tech enterprise or equivalent. In order to achieve the strategic goal of sustainable development, the group actively seeks industrial layout opportunities that are highly compatible with its main business, continuously invests resources in deepening core technology research and development and industrialization, aiming to expand the scale of core business and improve profitability. The Shanghai Shibei Hi-Tech Technology Development Zone in Nantong has a complete industrial layout system and mature park land supporting resources, providing comprehensive industrial support policies such as equipment subsidies, talent support, and innovation rewards for the project. In 2024, the group had established a research and development center in Nantong. The transactions outlined in the investment agreement are based on overall strategic planning. The company plans to enhance its research and development resource layout in Nantong, effectively coordinate with the Shanghai research and development center, and further strengthen the company's product design and research and development innovation capabilities. By constructing production bases and purchasing advanced production equipment, the company will have the ability to produce highly advanced process technologies such as SIP packaging, as well as conduct pilot testing and automated, intelligent production, thus forming a complete industry chain capability from product design, research and development, pilot testing, automated production, and testing. The company believes that strengthening research and production capacity construction will accelerate the company's product line's technological upgrade and iteration, promote the company's business expansion into new areas such as high computing power AI modules, ASIC servers, high computing power car-mounted SIP modules, and comprehensively enhance the company's product quality standards, benefitting the establishment of long-term stable supply chain relationships with various high-quality customers, and further expanding the company's business scale and improving its operational efficiency.