Qinchuan IoT announced on June 13 that it plans to sign the “Intelligent Sensor Industrialization Project Investment Contract” with the People’s Government of Dongpo District, Meishan City. The company plans to establish a wholly-owned subsidiary, Meishan Qinchuan Smart Sensor Co., Ltd., to carry out the construction of smart sensor industrialization projects, including smart sensors and core components and smart gas meter cavity projects. The source of funds for smart sensors and core components is Self-owned or self-raised funds, the source of funds for the smart gas meter cavity project is to change part of the original raised funds. The construction of the smart sensor industrialization project includes leasing real estate, purchasing land and building factories, and introducing investment in fixed assets including core components of various smart sensor machines, automated production lines for smart gas meter chambers, and supporting working capital.
The project focuses on the R&D and production of automotive smart sensors, smart home smart sensors, smart city IoT smart sensor terminals, industrial IoT smart sensor terminals and smart gas meter cavities, so as to promote the company’s sustainable and high-quality development. . The total investment of the project is about 1 billion yuan (940 million yuan for the smart sensor and core parts project, 60 million yuan for the smart gas meter cavity project), of which the investment in fixed assets is about 550 million yuan (504 million yuan for the smart sensor and core parts project, The smart gas meter cavity project is 46 million yuan), and the final total project investment is subject to the actual investment.
The company’s current main business is the R&D, manufacturing, sales and service of smart gas meters and comprehensive management software. The new business invested in is the R&D, manufacturing, sales and service of smart sensors and their core components. Although the company has certain professionals and technical reserves, but it is still in the exploratory stage in this business field. In addition, in the future operation and management process, it may be affected by uncertain factors such as macroeconomic and industrial policy changes, market environment, etc., and there may be risks that new business expansion may not be as expected. The impact of new business on the company’s future performance is uncertain.