Chun Guang Technology (603657.SH) subsidiary plans to invest in the construction of a new project with an annual production capacity of 8 million units of clean electrical appliances.

Chinatimes Financial APP news, Chun Guang Technology (603657.SH) announced that its wholly-owned subsidiary, Suzhou Shangteng, currently operates in Suzhou through external leasing of production facilities. With the continuous development of Suzhou Shangteng's clean appliance OEM business, the original production facilities are no longer able to meet the production needs. In order to save rental costs and optimize site resource allocation to meet market demand and further enhance product services and supply capabilities, the company plans to acquire land use rights on the south side of Jixiang Road and east side of Shanggong Road in Xukou Town, Wu Zhong District, Suzhou through bidding, and intends to invest in the construction of a new project with an annual production capacity of 8 million clean appliances. The total investment for this project is expected to be no more than 1 billion yuan. The company will implement the construction in stages based on actual market demand and business progress, with the final project investment expenditure subject to the actual construction needs.