Ruihu Mould joins hands with Chery Technology to expand the automotive lightweight market

On December 29, Ruihu Mould announced that it intends to jointly invest in the lightweight parts project of new energy vehicles with Wuhu Chery Technology Co., Ltd. (hereinafter referred to as "Chery Technology") and Wuhu Yongda Technology Co., Ltd. (hereinafter referred to as "Yongda Technology"), and promote the full production of the project as soon as possible after the project is put into production by locking business orders with existing customers. Since Chery Technology is a related party of the company, this foreign investment constitutes a related party transaction.

According to the disclosure, the project intends to invest in the construction of Wuhu Economic and Technological Development Zone in Anhui Province, the construction content is mainly for the development, design and manufacture of energy-saving and new energy vehicle precision aluminum alloy die castings, and has an annual output of 500,000 sets of large-scale lightweight parts production capacity of automobiles after full production. At the same time, the three parties will jointly invest in the establishment of Wuhu Ruihu Automobile Lightweight Technology Co., Ltd. (tentative name), with a registered capital of 100 million yuan, of which Ruihu Mould holds 45% of the shares, Chery Technology holds 35% of the shares, and Yongda Technology holds 20% of the shares.

Ruihu Mould said that lightweight is an important direction for the future development of the automotive industry, precision aluminum alloy is one of the important paths of automotive lightweight, this project is the common demand of all investors, the cooperation parties have synergistic advantages in the technology, process, equipment and industrialization of automotive lightweight parts, and all have the ability to perform contracts and can promote business development. At the same time, the company will deepen cooperation with existing customers, reach an intention with some existing customers as soon as possible in the early stage of the construction of the project, lock in business orders, and promote the full production of the project as soon as possible after it is put into production.

According to the data, Ruihu Mould's current customers include Ford, Renault, Peugeot Citroen, Porsche, Audi, Dongfeng Motor, GUANGZHOUC Group, Chery Automobile, BAIC Group, Great Wall Motor, Geely Automobile and other well-known brands. The company was rated as "China's Key Backbone Enterprise of Automotive Overlay Mold" and "Excellent Mold Supplier" by China Mould Industry Association, and has a high brand awareness in the industry.