Yongmaotai: Plans to invest USD 50 million to build a precision machining project for lightweight automotive components in Indonesia

Yongmaotai announced that the company plans to establish two wholly-owned subsidiaries in Singapore through its wholly-owned subsidiary Anhui Yongmaotai Automotive Parts Co., Ltd., and to invest in the construction of a lightweight automotive parts precision processing production line project in Indonesia through the Singapore subsidiary. The total investment for the project is expected to be USD 50 million, and upon completion, it will have an annual production capacity of approximately 5 million turbocharger housings. The project requires approval/filing and/or other administrative procedures from the governments of China, Singapore, and Indonesia, and there is uncertainty regarding whether these can be completed smoothly. The construction period for the project is expected to be 1 year