On October 28th, Jiangsu Leili Electric Co., Ltd. (“Jiangsu Leili”) issued a proposal that the company intends to sign an “Investment Cooperation Agreement” with Wang Hong, Shen Kun, Li Runsheng, Liu Ayong and Wang Jiahu to jointly fund the establishment of Anhui Kai Sting Precision Die Casting Co., Ltd. (tentative name), with a registered capital of 81 million yuan. Among them, Jiangsu Leili accounted for 67.33% of the registered capital of the newly established holding subsidiary. The joint venture company is mainly engaged in the manufacturing of auto parts and accessories, research and development of auto parts, non-ferrous metal alloy manufacturing, non-ferrous metal rolling processing, non-ferrous metal casting, and non-ferrous metal alloy sales.
It is reported that on October 18 this year, the company signed an investment agreement with the Lu’an Economic and Technological Development Zone Management Committee. It plans to establish a holding subsidiary in the Lu’an Economic and Technological Development Zone and invest 550 million yuan to build a “new energy vehicle core component production base” “project. The project covers a total area of about 100 acres. The construction includes the production of drive motors, electric scroll compressors, new energy automobile precision aluminum die-casting parts and stamping parts; new energy OBC controller assembly, industrial automatic controller assembly, etc. product.
The holding company of Leili Group-Taicang Kaisting Precision Die Casting Co., Ltd. (“Kasting”) focuses on the precision casting and processing of aluminum alloys, magnesium alloys, and zinc alloys. Jiangsu Leili’s revenue in the first three quarters of this year was 2.146 billion yuan, and its net profit was 222 million yuan.