HONG KONG SAR – Media OutReach Newswire – December 15, 2023 –
LK Technology Holdings Limited (Stock Code: 558, hereinafter “LK Technology” or the “Company”) and its subsidiaries (collectively, the “Group”) are pleased to announce that they have organized a “Signing Ceremony for Strategic Cooperation in the field of press and Giga technology”. in collaboration with Nezha Motors, a rising force in the automobile industry, where both parties entered into in-depth strategic cooperation on the joint development of 20,000 tons of Giga Press and various businesses. The die casting unit to be developed through this collaboration will have the highest clamping force in the world, with the potential to expand die casting applications integrated into the entire vehicle body chassis of Class B and larger models, creating more opportunities for integrated manufacturing.
The “Signing Ceremony for Strategic Cooperation in Press and Giga Technology” was held today (15th) at the headquarters of Nezha Motors in Shanghai. Mr. Zhang Yong, Co-Founder and CEO of Nezha Motors, and Mr. Liu Siong Song, Founder of the Group, delivered speeches at the ceremony. According to the cooperation agreement, Nezha Motors plans to purchase several sets of intelligent die-casting equipment from the group, which includes the joint development of the world’s largest 20,000-ton Giga press. These purchases set several industry records in terms of supply scale and clamping force, breaking records in the automotive and die-casting equipment industries. In addition, the two sides will engage in comprehensive and strategic cooperation in various business aspects, including the establishment of a die casting demonstration base and the establishment of a die casting research institute.
The 20,000 ton Giga Press that will be developed as part of this collaboration will currently be the largest clamping force die casting unit in the world. It has advanced molding technology and higher clamping force mechanism. Integration capabilities will extend beyond previous Class A0-C and SUV models to include the chassis of Class B vehicles. This opens more possibilities for the integrated manufacturing of technologically complex and larger automotive structural components . As a representative of the emerging force in the automobile industry, Nezha Motors covers the A0-B class mainstream market. The 20,000 ton Giga Press is expected to help them achieve larger die casting machine applications, including the chassis of Class B vehicles. This will help accelerate their adoption of the integrated technology of die casting and seize opportunities in the new energy vehicle market.
The successful signing of the 20,000 ton Giga Press represents a milestone in the entire die casting industry. This equipment is expected to exceed the previous maximum tonnage of die casting machines and propel integrated die casting technology for large automotive structural components to new heights. The increase in clamping force from 16,000 tonnes to 20,000 tonnes demonstrates the Group’s confidence in technological innovation and product development, as well as its potential to lead die-cast automotive components into larger solutions and more integrated. Moreover, this strategic cooperation agreement with Nezha Motors, a new and powerful customer of the company, will facilitate the industry-wide exchange of technologies and experiences, promote the application of Giga Press in the field of new energy vehicles, and will generate mutual benefits and win. -winning results.
Under this strategic cooperation, apart from the joint development of the 20,000 ton Giga Press, the two parties will also collaborate to establish a die casting demonstration manufacturing base in Anhui Province. They will also establish a die casting research institute, aiming to create the world’s largest integrated die casting research institution, combining production, academy and research. The focus will be on developing high-level design talents in die casting research and development, technology and tooling, aiming to benefit the industry and society as a whole.
Mr. Liu Siong Song,
the founder of LK Technology Holdings Limitedsaid: “We are delighted to see the success of the strategic cooperation between our group and Nezha Motors, and we look forward to further explorations with Nezha Motors in the future. Our die casting machine technology has always been at the forefront of the industry, and we are committed to leveraging our rich experience and market-driven approach to continually iterate and optimize our products. In just four years, we have completed the delivery and application of intelligent die casting units ranging from 6,000 tons to 16,000 tons. Our strong technical capabilities, which are constantly refined, have won the favor of customers and provide strong support to our abundant order book. This collaboration with Nezha Motors for the development of a revolutionary Giga Press officially marks the industry’s entry into the era of 20,000 ton clamping force. We will remain true to our original aspirations and continue to promote the intelligent, light and green development of the new energy vehicle industry. »
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The issuer is solely responsible for the content of this announcement.
