Huada Technology announced that the company plans to construct a new energy new material casting and processing project, with an estimated total investment of RMB 1.05 billion. The announcement shows that the first phase of construction is planned to start in September 2023 and be completed and put into production in May 2024; the second phase of construction will be implemented in steps according to the product project production situation. It needs to be noted that in recent years, Huada Technology's new energy automobile parts business has been steadily growing. In the first half of 2023, the operating income was 646 million yuan, an increase of 37.23% year-on-year, accounting for 27.38% of the company's revenue, an increase of 5.45 percentage points over the same period in 2022.
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