(Yicai Global) June 14 -- Aohong Electronics, a Chinese printed circuit board maker, plans to spend as much as CNY600 million (USD83.7 million) building a new plant in Thailand to better serve its overseas clients.
The project, destined for an industrial park in Prachin Buri province, will be built in phases and aim for mass production to start in 2026, the Changzhou-based company announced late yesterday, without disclosing any further details.
Aohong has well-known overseas clients, including LG Electronics, Whirlpool, and General Electric. It has two production bases in China with a total annual output of four million square meters of PCBs for home appliances, consumer electronics, power sources, network communications, and vehicle electronics, according to its website.
The Prachin Buri project will enhance Aohong’s core competitiveness by better serving existing and potential key clients and lowering production costs, the firm added.
According to Aohong’s latest annual earnings report, about 72 percent of its revenue comes from the Chinese market.
The firm’s shares [SHA: 605058] closed up 0.3 percent at CNY21.81 (USD3.05) apiece in Shanghai today. The stock has gained 16 percent this year to date.
Editor: Futura Costaglione