Songyuan shares subsidiary plans to build an annual production of 3 million sets of automotive steering wheel assemblies and 40 million sets of key parts in Chaohu City

Hefei Songyuan, a wholly-owned subsidiary of Songyuan, plans to sign an "Investment Cooperation Agreement" with the People's Government of Chaohu City to establish a project in Chaohu City with an annual output of 3 million sets of automotive steering wheel assemblies and 40 million sets of key parts. The total investment of the project is expected to reach RMB 1 billion, and the land area is about 200 acres. Songyuan is a leading first-tier supplier of automotive passive safety systems in China, focusing on the research and development, design, production, sales and service of automotive passive safety system products such as automotive seat belt assemblies and parts, as well as special seat safety devices. It has successfully established cooperative relations with well-known automobile manufacturers such as BYD, Chery, Volkswagen (Anhui), Weilai, JAC, Geely, Changan, and SAIC Maxus.