SHANGHAI, Jan. 29, 2019 /PRNewswire/ -- USI (SSE: 601231) announced on January 29, 2019 that the ninth meeting of the fourth board of directors of the Company reviewed and approved that the Company intended to sign the "Project Investment Agreement" with China Merchants Group of Huizhou Daya Bay Economic and Technological Development Zone of Guangdong Province, planning to set up a wholly-owned sub-subsidiary Huanrong Electronics (Huizhou) Co., Ltd. (subject to examination and approval by Administration for Industry and Commerce) in Huizhou Daya Bay Economic and Technological Development Zone, mainly producing video control panels, cash registers, server motherboards, new electronic products and other products, with total planned investment (including land transfer fees) of no less than RMB 1.35 billion, of which fixed assets investment is not less than RMB 1 billion, registered capital is RMB 200 million, and the Company's wholly-owned subsidiary Universal Scientific Industrial Electronics (Shenzhen) Co., Ltd. (hereinafter referred to as "Universal Scientific Industrial Electronics (Shenzhen)") holds 100% equity of the new company.
As the only production base of the Company in South China, Universal Scientific Industrial Electronics (Shenzhen) is running near full capacity, and the existing site and space cannot meet the development needs of the Company's business in South China. The Company's investment in Huizhou Daya Bay New Plant for this time is a key project of the Company's development strategy planning. The implementation of this project is beneficial to the investment of Universal Scientific Industrial Electronics (Shenzhen) in new plant areas to meet the growing needs of its capacity expansion and the development of the Company's business in South China. It is also beneficial to the Company's acceleration of technological transformation and industrial upgrading, vigorous development of industrial automation, significant improvement of the Company's industry competitiveness and rational distribution of production capacity so as to fully leverage the advantages of technology, market and talents accumulated in Shenzhen to consolidate the foundation of the Company's accelerated expansion and long-term development in South China.
Planned Place for USI Huizhou Plant Located in Western Comprehensive Industrial Zone (Source: Huizhou Daya Bay Economic and Technological Development Zone Bureau of Investment Promotion)
About USI (SSE: 601231)
USI is a leading global D(MS)2 company providing design, miniaturization, material sourcing, manufacturing, logistics, and after services of electronic devices/modules for brand owners. USI is a member of ASE Group and has been listed in Shanghai Stock Exchange in 2012. It has many years of experience in the electronics manufacturing services industry and leverages the industry-leading technology of ASE Group, which enables USI to offer customers diversified products in the sectors of wireless communication, computer and storage, consumer, industrial, and automotive electronics worldwide. Through the sales service network in North America, Europe, Japan, Mainland China, Taiwan, and manufacturing sites in Mainland China, Taiwan, Mexico and Poland. USI has about 18,000 people worldwide. For more information, please visit the website www.usish.com.
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