Projects boost high-quality development in CCEDZ
The Chongchuan Economic Development Zone in Nantong, Jiangsu province has positioned project attraction as a crucial catalyst for high-quality development, drawing a multitude of projects.
One project is being developed by EC Precision Technology (Jiangsu) Corp, which started operating in the zone in 2010. The company specializes in the research, production, and sale of various automotive components and has been recognized as a national-level "little giant" enterprise. In June, it went public on the Beijing Stock Exchange.
The second phase of its project focuses on the construction of a production facility for new energy vehicle components. Work on the project commenced in December 2022 with a total investment of 512 million yuan ($71.58 million). It is expected to be completed in January next year, with the facility is set to commence production in July.
"After the completion of the second-phase project, we will have an annual production capacity of 8 million high-voltage connectors for new energy vehicles and 30 million high-voltage shielding covers. This expansion is projected to contribute an additional 500 million yuan in taxable sales and pay 30 million yuan in tax," stated Zhang Xiao, deputy-general manager of the company.
For the first three quarters of this year, EC Precision Technology reported a sales revenue of 1.85 billion yuan, a year-on-year increase of 20.22 percent.
A workshop belonging to EC Precision Technology (Jiangsu) Corp. [Photo/WeChat account: ntjjkfq]
