Zhongchuang Zhiling subsidiary invests in new thermal management company

Zhongchuang Zhiling Industrial Technology Group Co., Ltd. announced that its controlling subsidiary, Asimco Industrial Technology (Nanjing) Co., Ltd., will invest 270m yuan to establish a wholly-owned subsidiary, Asimco Thermal Management Technology (Yizheng) Co., Ltd. The new entity, with a registered capital of 270m yuan, will be located in Yizheng City, Jiangsu Province, and will focus on thermal management systems for new energy vehicles, power, and communication.

The investment aims to bolster Asimco Group's competitiveness in the thermal management cold plate business and expand into new application areas. The funding will come from Asimco Nanjing's own funds and internal loans from Zhongchuang Zhiling, with capital contributions to be made in batches as needed.

This investment falls within the approval authority of the company's management committee and has completed internal decision-making processes. It does not require approval from shareholders or the board of directors but is subject to registration with the market supervision and administration department. The company acknowledges potential risks related to macroeconomic shifts, industry policy changes, operational management, and market development.