On the morning of December 2nd, the company held a joint venture cooperation signing ceremony with South Korean company Chengmen in the form of a video conference. Both parties invested in establishing a joint venture company to implement the thin film capacitor project for new energy vehicle filtering. The Chairman and Party Secretary of the company, Huang Mingqiang, and the representative director of South Korean Chengmen Company, Xin Junxie, respectively signed a joint venture cooperation agreement on behalf of both parties. General Manager Bao Junhua, Deputy General Manager, Chief Financial Officer Guo Chuanhong, Secretary of the Board Li Jun, and directors Xin Chengxie and Kim Jong lok of South Korean Chengmen Company attended the signing ceremony at their respective venues.

According to the agreement, the registered capital of the joint venture company is 100 million yuan, and the subscribed capital of the company is 75 million yuan, accounting for 75%; South Korean Chengmen Company subscribed a capital of 25 million yuan, accounting for 25%. The joint venture company will undertake the construction of a capacitor project for new energy vehicles, and the project construction scale will also increase from an annual output of 240000 to an annual output of 1 million new energy vehicle filter film capacitors.

Chengmen Company is a well-known Korean enterprise that mainly produces metalized films and has strong technical strength in the field of metalized films. This cooperation between the two parties can further leverage their respective industrial and technological advantages in the field of thin film capacitors, improve the quality of the joint venture's products, seize the opportunities of rapid development in the new energy vehicle market, and expand the future sales channels of the joint venture's products in South Korea.

At the signing ceremony, both parties highly praised their good cooperative relationship over the years and unanimously stated that this joint venture cooperation is a cooperation that meets the needs of the times, actively grasps the development trend of new energy, achieves technological complementarity, mutual promotion, and mutual benefit, and is conducive to further promoting the transformation and upgrading of industries and optimizing product structure adjustment of both parties. It is believed that through concerted efforts and joint efforts, both sides will be able to open up a new Xintiandi in the field of capacitors for new energy vehicles and jointly achieve new and better development.