Sieyuan Electric (002028.SZ) Plans Joint Venture Investment of Up to 400 Million Yuan for IGCT-Based Power Electronics Business

Stock News09-26

Sieyuan Electric Co.,Ltd. (002028.SZ) announced that the company plans to establish a joint venture company, Beijing Siyuan Huaishi Energy Technology Co., Ltd., in Huairou District, Beijing, using its own funds in partnership with a third party. The company's investment will not exceed 400 million yuan.

The joint venture's business scope will encompass research and development, production, and sales of power electronics-related technology products based on IGCT device platforms.

According to the announcement, this investment represents a collaboration between the technology side, represented by Huairou Laboratory, and the industrial side, represented by the company, to jointly establish the venture in Huairou Science City, Huairou District, Beijing.

The technology side, represented by Huairou Laboratory, will contribute through intellectual property rights with a tentative shareholding ratio of 30%. The industrial side, represented by the company, will contribute cash with a tentative shareholding ratio of 70%, with the company's cash contribution not exceeding 400 million yuan.

No formal agreement has been signed for this investment yet.

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