---
title: "GOLDCUP plans to invest approximately 700 million yuan to build an electromagnetic wire production base in the Czech Republic"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/231539158.md"
description: "GOLDCUP plans to invest approximately 700 million yuan to build an electromagnetic wire production base in the Czech Republic, in order to enhance its service capabilities for European and other overseas markets, and to improve brand awareness and competitiveness. This move will help the company quickly respond to the needs of European customers, seize opportunities in the power grid renewal and new energy markets, and consolidate its global competitive advantage"
datetime: "2025-03-12T12:43:22.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/231539158.md)
  - [en](https://longbridge.com/en/news/231539158.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/231539158.md)
generator: "portal-rs"
---

# GOLDCUP plans to invest approximately 700 million yuan to build an electromagnetic wire production base in the Czech Republic

According to the news from Zhitong Finance APP, GOLDCUP (002533.SZ) announced that in order to further enhance the company's service response capability to customers in Europe and other overseas markets, improve the company's brand awareness and comprehensive competitiveness in the international market, and promote the globalization layout strategy, the company's ninth temporary meeting of the seventh board of directors approved the plan to invest approximately 700 million RMB in the Czech Republic to establish an electromagnetic wire production base using a combination of self-owned funds and financing.

The company's plan to establish an electromagnetic wire production base in the Czech Republic will facilitate the company’s quick response to the nearby supply needs of European customers for electromagnetic wire products, seize the huge market demand brought by the upgrading and transformation of the European power grid as well as the new energy power and new energy vehicle sectors, thereby laying a foundation for further consolidating and leveraging the company's comparative advantages in electromagnetic wire products globally and participating in global competition and internationalization

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**