(Yicai Global) Nov. 29 -- Chinese high-tech firm Shenzhen Sunlord Electronics Co., [SHE:002138] will invest CNY10 billion (USD1.5 billion) signed an agreement with the local government in the construction of an advanced manufacturing base in Shanghai in the next 10 years in an effort to expand business and enhance core competitiveness, the company said in a press briefing yesterday.

The manufacturing base will also serve as the Asian Pacific headquarters for the company and will focus on automotive electronics, 5G communications, and Internet of Things.

Sunlord Electronics, founded in 2000, is mainly engaged in the R&D, production and sales of electronic devices. Its products are widely used in consumer electronics, computers, medical devices, automotive electronics and other fields.

The signing of the agreement will not have a significant impact on the company's annual business performance this year, it said, without disclosing the specific source of the funding.