Newtech plans to set up a subsidiary in Germany

Jiangsu Newtech Technology Group Co., Ltd. plans to increase the capital of its wholly-owned subsidiary Newtech (Hong Kong) Co., Ltd. by no more than 40 million yuan, and through it, establish a wholly-owned subsidiary NTGEurope GmbH in Germany. Newtech is mainly engaged in the research and development, production and sales of aluminum casting parts and plastic parts in the fields of automotive suspension systems, interior and exterior decoration.