Tuopu Group allocates 3.5bn yuan for expansion projects

Ningbo Tuopu Group announced it has secured 3.5 billion yuan in net proceeds from a non-public offering completed in January 2024, earmarking the funds for eight expansion projects.

Key investments include 600 million yuan for a Chongqing lightweight chassis systems base, 750 million yuan for a Ningbo facility, and 100 million yuan for automotive interior components.

The company disclosed a strategic shift, reallocating 380 million yuan from a Ningbo project to a new Thai thermal management system project, reflecting adjustments approved in mid-2025.