Huagong Co., Ltd.: Plans to invest 296 million yuan to build a production base for automotive wiring harnesses in Tunisia.

Huaguang Corporation announced that the company plans to establish a wholly-owned subsidiary in Singapore through its wholly-owned subsidiary Huaguang International Limited, and the subsidiary will jointly invest with Huaguang Hong Kong in Tunisia to establish a joint venture company to build an automotive wire harness production base. The total investment for the project will not exceed 37.5 million euros, mainly for land acquisition, factory construction, equipment procurement, etc., with the first phase of the project expected to take six months to complete. This investment still needs to complete relevant approvals or filings at home and abroad, and there are uncertainties. The company stated that this move aims to improve its global layout, enhance international customer service capabilities, and market competitiveness.