In response to an investor inquiry, Essence Fastening Systems (Shanghai) Co., Ltd. stated that both the company and Chengdu Xinyue operate within the precision manufacturing sector.
Through the acquisition of Chengdu Xinyue, the company's product line can expand into the aerospace and aviation field, thereby increasing the range of its product applications.
Benefiting from the high growth within the aerospace manufacturing industry, this expansion is poised to become a secondary growth driver for the company's performance.
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