Xinan Technology and its subsidiary signed a joint venture agreement to invest in building a new factory in Thailand

Recently, Wuxi Xinan Technology Co., Ltd. (hereinafter referred to as Xinan Technology) and its wholly-owned subsidiary Wuxi Casting Materials Co., Ltd. jointly signed a "Joint Venture Agreement" to establish a new joint venture company in Thailand, which will be mainly responsible for the investment, construction and operation of the Thai factory. The total investment in the factory is about 68 million US dollars. The newly established joint venture company is tentatively named Xinan Technology (Thailand) Co., Ltd., with a registered capital of 5 million baht. Xinan Technology holds 99.9% of the shares, and Wuxi Casting Materials Co., Ltd. holds 0.1% of the shares.