Yuefeng Technology: To implement 1.05 billion yuan of new energy and new material casting processing project
September 18, 2023
On September 15, 2023, Yuefeng Technology announced that the company intends to invest in the establishment of a wholly-owned subsidiary of Yuefeng New Energy Technology (Jiangsu) Co., LTD., which will be the main body of the project construction to implement the construction of new energy and new material casting and processing projects.
The total investment of the project is expected to be 1.05 billion yuan, which will be implemented in two phases. After all the construction of the project is completed and the production reaches 60,000 tons, it is expected to achieve production and sales of more than 2 billion yuan per year.
The construction project implemented by the company is based on aluminum alloy casting, machining and assembly preassembly as the core business, and follows the strategic project established by the mainstream automobile companies in the concept of "new material application, lightweight body" for the growth of demand for light metal casting parts.
The construction site of the project is located in the North Park of Jingjiang Economic and Technological Development Zone, Jingjiang City, Jiangsu Province, with the aim of automation, intelligence and information. The input and output of the project mainly covers two aspects of demand, one is the product demand of the holding subsidiary Jiangsu Yuefeng Industrial Technology Co., Ltd. for casting products, such as battery shells, structural connectors, etc., and the other is the product demand for the high-pressure casting market and the vehicle integration casting market.