Hongxin Technology (301539.SZ) plans to invest about 50 million US dollars to expand wheel production capacity in Thailand

Zhitong Finance App News, Hongxin Technology (301539.SZ) announced that the company plans to use its wholly-owned subsidiary Terry Industries (Thailand) Co., Ltd. as the implementing entity to invest in the construction of a wheel production project in Thailand with its own and self-financing through capital increases or loans. The project plans to invest an additional 50 million US dollars.

According to the announcement, the company's current Thai alloy technology base mainly focuses on aluminum wheels for commercial vehicles and some passenger wheels. It is unable to meet overseas passenger wheel demand, and there is an urgent need to build a new production line.