China News Agency, Beijing, December 23 (Reporter Chen Kangliang) China's listed company Huizhou Zhongjing Electronics Technology Co., Ltd. (hereinafter referred to as "Zhongjing Electronics") announced on the 23rd that in order to better meet the company's business development needs, the company's board of directors decided to Thailand invested in a new printed circuit board (PCB) production base.
According to reports, the main products of the production base are high-density multilayer boards (MLB) and high-density interconnect boards (HDI), and the key application areas include automotive electronics, computers and network communications.
The planned investment amount of the project does not exceed RMB 550 million, including but not limited to the purchase of land, purchase and construction of fixed assets and other related matters. The actual investment amount is subject to the amount approved by the Chinese and local authorities.
According to the announcement, Zhongjing Electronics plans to purchase about 150 acres of land in the Ayutthaya Industrial Park in Logana, Thailand.
Zhongjing Electronics plans to implement the construction of a production base in Thailand in stages, and plans to achieve a certain scale of mass production in 2025.
Regarding the purpose of this foreign investment and its impact on the company, Zhongjing Electronics stated that the company’s investment in the construction of a production base in Thailand is an important measure for the company to implement its overseas strategic layout, which will help the company reduce operating costs, open up overseas markets, and establish Overseas supply capacity of products can better meet the order needs of international customers; it is conducive to the company to respond more flexibly to macro environment fluctuations, industrial policy adjustments, and reduce the potential adverse impact that changes in the international trade pattern may have on the company.
Zhongjing Electronics believes that Thailand, as a fast-growing emerging market economy, has undertaken a large number of printed circuit board production capacity transfers in recent years, and the PCB-related industrial chain has also been continuously improved, which can better meet the needs of the company to build overseas production bases.
The automobile industry has become a pillar industry in Thailand, and Thailand is also a major exporter of computers and electronic appliances in Southeast Asia.
The construction and implementation of this overseas production base will help the company take advantage of Thailand's good industrial foundation and location advantages to better provide product services for the company's existing and potential customers, enhance the company's core competitiveness, and help the company optimize production costs , improve the company's economic benefits.
The announcement also reminds that this foreign investment still needs to go through the domestic and foreign investment filing or approval procedures.
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