Zhuzhou CRRC Times Electric (688187.SH) subsidiary plans to establish a joint venture named Beijing CRRC Times Huai Semiconductor Co., Ltd.

Zhuzhou CRRC Times Electric (688187.SH) announced that in order to deepen the development of semiconductor IGCT technology products and industrial cooperation, further enhance the core competitiveness of the semiconductor industry, and expand the product spectrum and application fields, its subsidiary, Zhuzhou CRRC Times Semiconductor Co., Ltd. (referred to as "Times Semiconductor"), has jointly invested 287 million yuan with Beijing Huairou Laboratory and other companies to establish Beijing CRRC Times Huairou Semiconductor Co., Ltd. in Huairou District, Beijing. Times Semiconductor contributed 192 million yuan, accounting for 67% of the registered capital of the joint venture, which will be included in the consolidated financial statements of Times Semiconductor.