Suzhou Longway Electronic Machinery (301202.SZ) plans to invest up to $18 million in purchasing land in the United States to expand its international market share.

Suzhou Longway Electronic Machinery (301202.SZ) announced that, in accordance with the needs of business development, its wholly-owned subsidiary LONGWAY US Corp. intends to purchase land and factory buildings in the United States, located at 1500 South Kautz Road, Geneva, Illinois, through cash payment. The transaction price will not exceed 18 million US dollars. This proposed asset acquisition is a key measure for the company to implement its international development strategy and optimize its global supply chain system. With the support of overseas entities, the company aims to shorten product delivery radius, reduce cross-border logistics and supply chain costs, enhance overseas market responsiveness and product delivery capabilities, further consolidate and expand international market share, and strengthen the company's global operational strength and core competitiveness.