Tongfei Co., Ltd. (300990.SZ) plans to build the Southern headquarters and industrial cooling equipment and components project for about 600 million yuan

Zhitong Finance App News, Tongfei Co., Ltd. (300990.SZ) announced that the company plans to sign a “Letter of Intent for Strategic Cooperation” with the Suzhou Science and Technology City Management Committee to invest in the construction of the Southern Headquarters and industrial cooling equipment and components project in Suzhou Science and Technology City. The investment amount of this project is about 600 million yuan. The company plans to establish a wholly-owned subsidiary within the jurisdiction of the Suzhou High-tech Zone as the implementing entity of this project.

The proposed construction project mainly produces four product lines: liquid thermostatic equipment, electric box thermostats, pure water cooling units, and special heat exchangers. The products and solutions are mainly used in CNC equipment, lasers, power electronics, energy storage, semiconductors, data centers, hydrogen energy, new energy vehicles (charging and switching), medical equipment, oil and gas storage and transportation. The company plans to start construction of an industrial plot of about 60 acres in 2026, introduce multiple digital production lines, and form an industrial pattern integrating “R&D, manufacturing, sales and service”.

The announcement stated that through this foreign investment, it will help the company enhance product supply and service capabilities, achieve the goal of “close production and service to customers”, increase customer stickiness, and also facilitate the company's market development and enhance the company's influence.