TZTEK invests $126M in tech innovation projects

Suzhou TZTEK Technology (SSE:688003) announced plans to invest up to 900 million RMB (approximately $126 million USD) raised through convertible bonds into three core technology innovation projects. The projects include: Industrial visual equipment and precision measurement instrument R&D and industrialization (400 million RMB), semiconductor measurement equipment R&D and industrialization (300 million RMB), and intelligent driving and human-like intelligent controller R&D and industrialization (200 million RMB). The company stated these investments align with national strategic priorities, bolster its core competencies, and enhance its market position in key sectors like electronics, semiconductors, and automotive industries. TZTEK aims to leverage these projects to drive future growth and shareholder value.