Jiangsu Fanster, a subsidiary of Zhenyu Technology, received a letter of intent from CRRC Electric Drive

Jiangsu Fanster, a wholly-owned subsidiary of Zhenyu Technology, recently received a "Designated Letter of Intent" from Hunan CRRC Times Electric Drive Technology Co., Ltd., marking that Jiangsu Fanster has officially become the supplier of stator and rotor cores for CRRC Electric Drive. The stator and rotor cores of this project will be used in the third hybrid model of a new and popular domestic automaker. The project period is 5 years (2026 to 2030), and the total amount of the project life cycle is preliminarily estimated to be approximately 518 million yuan.