On September 15, 2023, Huada Technology made an announcement regarding its plans to invest RMB 1.05 billion in a new energy and new material casting processing project. Under this project, the company will establish a wholly-owned subsidiary, Huaqi New Energy Technology (Jiangsu) Co., LTD., which will oversee the project's construction and implementation.
This ambitious project will unfold in two phases, with a total expected investment of RMB1.05 billion. Upon completing all construction activities and attaining a production capacity of 60,000 tonnes, the project anticipates generating annual production and sales revenues exceeding RMB 2 billion.
Huada Technology's project centres on the core activities of aluminium alloy casting, machining, and assembly preassembly. It aligns with the strategic objectives set by prominent automotive companies, focusing on the application of new materials and the development of lightweight vehicle components to meet the growing demand for light metal casting parts.
The project's construction site is situated in the North Park of Jingjiang Economic and Technological Development Zone within Jingjiang City, Jiangsu Province. The project aims to integrate automation, intelligence and information technologies into its operations.
The project's input and output primarily revolve around two key aspects: meeting the product demands of its subsidiary, Jiangsu Hengyi Industrial Technology Co., Ltd., for casting products such as battery shells and structural connectors and serving the high-pressure casting and vehicle integration casting markets.
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