On August 12, Guolong announcement said that Triangle Defense (300775.SZ) plans to sign an investment cooperation agreement with Xi'an Xi Investment Management Co., Ltd. (referred to as 'Xi Investment'), Xi'an Gong Chuang Investment Co., Ltd. (referred to as 'Xi'an Gong Chuang'), and Xi'an Aviation Industry Investment Co., Ltd. (referred to as 'West Aviation Investment'), to jointly invest in the establishment of Xi'an Sanzhong Aviation Technology Co., Ltd. (tentative name, subject to the final registration approval by the market supervision and management department, referred to as 'Sanzhong Aviation').
In which the company invests 390 million RMB with its own funds, accounting for 43.33% of the registered capital of the joint venture; The company's related party, Xi Investment, invests 360 million RMB in cash, accounting for 40.00% of the registered capital of the joint venture; Xi'an Gong Chuang invests 100 million RMB in cash, accounting for 11.11% of the registered capital of the joint venture; The company's related parties, West Aviation Investment, invests 50 million RMB in cash, accounting for 5.56% of the registered capital of the joint venture.
This joint venture investment in the establishment of Xi'an Sanzhong Aviation Technology Co., Ltd., relying on Triangle Defense's strong forging technology research and development strength and production capacity, to build a 1000MN/1250MN (0.1 million tons/0.125 million tons) precision intelligent forging production line, improve the precision forging technology of large-scale aerospace forging parts, achieve the integral precision forging of large-scale structural parts, improve the structural integrity and surface integrity of aerospace key parts manufacturing, enhance equipment safety and reliability, and reduce the manufacturing cost of mainframe. It meets the supporting needs of the domestic large-scale early warning aircraft, transport aircraft, fighter aircraft, bomber aircraft, civil aircraft and other models, and creates a 'new quality productivity' for China's aerospace forging industry.
