A subsidiary of Times Electric (03898) plans to invest about 192 million yuan to establish joint ventures with Beijing Huairou Laboratory and others

Zhitong Finance App News, Times Electric (03898) announced that in order to deepen semiconductor IGCT technology product development and industrial cooperation, further enhance the core competitiveness of the semiconductor industry and expand product spectrum and application fields, the company's subsidiary Zhuzhou CRRC Times Semiconductor Co., Ltd. and Beijing Huairou Laboratory and other companies jointly invested about 287 million yuan to establish Beijing CRRC Times Huaishi Semiconductor Co., Ltd. (tentative name, based on the name registered by the market supervision and management department, hereinafter referred to as the “Joint Venture Company”), of which Times Semiconductor has invested about 287 million yuan 192 million yuan, accounting for 67% of the registered capital of the joint venture, which is included in the scope of Times Semiconductor's consolidated financial statements.