Lingyun Ind's holding subsidiary plans to invest €7.6 million to establish a subsidiary in Morocco

According to the Zhitong Finance APP, Lingyun Ind (600480.SH) announced that in order to actively seize the opportunities arising from the restructuring of the global automotive industry supply chain, meet the supporting requirements of high-quality customers, and strengthen market competitive advantages, the company's controlling subsidiary Shanghai Yada Automobile plans to establish a subsidiary in Morocco as a production base serving the European and North African markets, to build the capability for supplying automotive pipelines and energy storage pipelines. The registered capital of Yada Morocco is 7.6 million euros (equivalent to the corresponding dirhams), which will be funded by Shanghai Yada Automobile through its wholly-owned subsidiary Yada (Hong Kong) International Investment Co., Ltd. (referred to as "Hong Kong Yada") with an investment of 7.6 million euros, holding 100% of the shares.

Europe has many high-quality automotive companies with advanced design concepts, occupying a significant portion of the high-end vehicle market, and the market scale is very considerable. At the same time, mainstream international automotive companies currently adopt centralized procurement and centralized R&D models, with an increasing number of global platform projects for automotive brands, accounting for a growing share. By establishing a production base in Morocco, it can meet the localization and low-cost supply requirements of international clients such as TSL, Pirelli, and Magna