Xinji Group announced that the company previously disclosed that its wholly-owned subsidiary plans to invest 40 million US dollars to establish an overseas subsidiary and build a production base for the fixed rotor iron core factory project in Thailand. Recently, the Thai company and TQT TRADING CO., LTD officially signed a “Land Sale Agreement” in Chonburi Province, Thailand to purchase a plot of land located in the industrial park in Bambang County, Chonburi Province, Thailand. The plot area is 80-2-91.5 rai, and the purchase amount is 250 million baht, using an installment payment method for the construction of a production base in Thailand.

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