Shentong Technology Group (605228.SH) plans to invest 700 million yuan to build an intelligent manufacturing project for automobile parts.

Shentong Technology Group (605228.SH) announced that the company plans to sign an "Investment and Support Agreement" with the Management Committee of the Lingang New Area in the China (Shanghai) Pilot Free Trade Zone and the People's Government of Sizhuan Town, Fengxian District, Shanghai, to invest in and construct the "Intelligent Manufacturing Project for Automobile Components" in the Shanghai Lingang Holdings New Area. The project will be implemented by its wholly-owned subsidiary Shanghai Mingyi Automotive Parts Co., Ltd., with a total estimated investment of 700 million yuan. The project will further expand the business of automobile electronic control software and hardware system integration, such as intelligent cockpits and intelligent access systems, based on the original production of automobile interior and exterior parts, creating an automobile component industry base integrating research and development, manufacturing, and testing.