Vanjee Technology (300552.SZ) announced that its wholly-owned subsidiary, Vanjee International (Hong Kong) Holdings Co., Ltd., plans to establish a joint venture company named Vanjee Korea LiDAR Solution Corp. (referred to as "Korean Vanjee" or "Joint Venture") in South Korea with ChaSeungYuhp and Chasy Robotics Inc. The total investment is 50 million won, of which Vanjee International will contribute 5 million won from its own funds, holding 10% of Korean Vanjee's shares; ChaSeungYuhp will contribute 25 million won, holding 50% of Korean Vanjee's shares; Chasy Robotics Inc. will contribute 20 million won, holding 40% of Korean Vanjee's shares. The company's management has been authorized to handle the establishment of the Korean joint venture. Both parties agreed to establish Vanjee (Korea) LiDAR Solution Ltd. with the aim of distributing and promoting LiDAR products in the Korean market, especially for robot and auto customers in South Korea.
The core driving force behind this overseas investment is the company's global business development strategy. It aims to promote the comprehensive expansion of the overseas market, which is beneficial to improving the company's overall competitiveness and international influence. In view of South Korea's important position in the field of LiDAR and the global impact of car companies and active robot clusters, the company has decided to set up a joint venture in South Korea. This move not only helps to enhance the company's influence in the international LiDAR market, but also enables the two parties to deepen their cooperation in product, channel and professional knowledge, to further develop the Korean LiDAR market, and to strengthen the company's international supply capabilities. This strategy is in line with the company's global layout direction and is of great significance for promoting the long-term development of overseas business.