On June 24th, Gelonhui reported that in order to accelerate the development of the auto parts business according to the company's global strategy and operational needs, Guangzhou Echom Sci.&Tech. Co,. Ltd. (002420.SZ) plans to invest RMB 50 million in Anqing City, Anhui Province to establish Anqing Yichang Technology Co., Ltd. (tentatively named, subject to the name approved by the industry and commerce Bureau, hereinafter referred to as "Anqing Yichang"), with a registered capital of RMB 30 million. The specific amount and timing of the investment will be determined according to the progress of the project construction, and the funds will come from its own capital.

This foreign investment is beneficial for the company to accelerate the development of the auto parts business, improve the global strategy and layout, further enhance the company's competitiveness, meet the market demand, and is in line with the company's development plan and overall interests.