Nutige announced that Jiangsu Meier Auto Parts Co., Ltd., a wholly-owned subsidiary of the company, signed an “Investment Agreement” with the Management Committee of Huai’an High-tech Industrial Development Zone. The main construction content of the project is the company’s “initial public offering and listing on the Growth Enterprise Market” In the prospectus, the investment project “Jiangsu Meier’s annual processing of 40 million sets of auto parts production project”, the total investment of the project is about 135 million yuan (the investment amount does not include the amount of land transfer). The investment company plans to use the raised funds to invest 93.9959 million yuan, and the remaining part will be made up by the company’s own funds.
It is reported that the project is the subsequent process of the aluminum alloy die-casting process. After completion, it will increase the machining capacity of the company’s aluminum casting parts. The project site is located near the Jiangsu Meier aluminum die-casting factory, which is conducive to shortening the transportation distance between the die-casting factory and the machining factory, reducing transportation costs and improving production efficiency.