Sinoma Science & Technology (002080.SZ) announced that its holding subsidiary, Sinoma Science & Technology (Suzhou) Co., Ltd. ("Suzhou Limited")...
According to the Zhitong Finance and Economics APP, Sinoma Science & Technology (002080.SZ) has announced that its holding subsidiary, Suzhou Limited has a wholly-owned subsidiary, Sinoma Science & Technology (Chengdu) Co., Ltd. ("Chengdu Limited"), planning to invest 0.281 billion yuan in Chengdu, Sichuan Province to build a "production line project for the production of 100,000 hydrogen cylinders per year (with 50,000 in the first phase)". To meet the needs of the project construction, Chengdu Limited intends to purchase assets such as land, buildings, and equipment from Sinoma Asia Vets Technology (Chengdu) Co. Ltd. ("Chengdu Asia Vets").
The project involves acquiring land use rights and factory buildings, locally renovating and refurbishing the factory, office buildings, and auxiliary buildings, procuring 74 sets of special equipment for hydrogen cylinder production such as drawing machines, spinning machines, annealing furnaces, winding machines, and curing furnaces, thereby establishing an annual production capacity of 50,000 hydrogen cylinders. Subsequently, the second phase of the project will be initiated in due course, by increasing equipment investment to add another 50,000 units of annual production capacity, ultimately achieving an annual production capacity of 100,000 hydrogen cylinders.
