Guangwei Composite Materials: Subsidiary and Shanghai Aircraft Manufacturing Co., Ltd. established a joint venture to form a civil aircraft components company.

Guangwei Composite Materials Official Account posted an article on September 18th. Guangwei Composite Materials' wholly-owned subsidiary, Guangwei New Materials, signed an investment cooperation agreement with Shanggong Feiren, a subsidiary of Shanggong Shenbei Holdings. The two parties will establish a joint venture company focused on civil aircraft components, with a registered capital of 80 million yuan. Shanggong Feiren will contribute 60 million yuan, holding 75% of the shares, while Guangwei New Materials will contribute 20 million yuan, holding 25% of the shares. The joint venture company will focus on the research and development, manufacturing, and sales of carbon fiber composite structural components for light aircraft, as well as related products. The goal is to fully utilize the technological synergies and industrial resource advantages of both parties to improve the level of technology in aerospace composite components and significantly reduce the manufacturing costs of domestic aviation components.