Times Electric announced that its subsidiary Times Semiconductor and Beijing Huairou Laboratory and other companies jointly invested 287 million yuan to establish CRRC Times Huaishi Semiconductor Co., Ltd. in Huairou District of Beijing. Of these, Times Semiconductor invested 192 million yuan, accounting for 67% of the joint venture's registered capital. The joint venture was included in the scope of Times Semiconductor's consolidated financial statements. This investment is in line with the company's development strategy and will not adversely affect the company's financial situation and operating results, but it may face strategic and operational risks, which are generally manageable.

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