Yijiahe (亿嘉和, 603666.SH), a leading domestic general robotics manufacturer, announced a decision to build a factory in eastern China’s Yangzhou yesterday.
In an exchange filing, the company said it will begin construction of a smart manufacturing center in Gaoyou, a city governed by Yangzhou, to boost its production volume.
According to Yijiahe, headquartered in the Jiangsu provincial capital of Nanjing, it seeks to invest as much as 300 million yuan (US$43.73 million) to scale its production.
By investing via a wholly owned subsidiary in a manufacturing hub in Gaoyou, Yijiahe looks to develop robots catering to scenarios such as power grid maintenance, office work, commercial cleaning, railway inspection and EV charging.
Additionally, it also seeks to manufacture other types of intelligent industrial equipment than robotics.
Yijiahe said the investment doesn’t constitute related party transaction in the exchange filing.
According to the firm, the new production facility, sitting on a land parcel of 112 mu, or 74,666 sqm, will utilize local human resources and supply chain advantages to further improve product quality, lower costs and bolster its overall competitiveness.
Yijiahe said it will finance the construction of the center with its own money, and as a public company, will try to curb the impact of the investment on its day-to-day operations.