Xinyan Shares Bolsters Production of Civil Aircraft Parts-Faith Man Shanghai Nonferrous Metals Co., Ltd.

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Xinyan Shares Bolsters Production of Civil Aircraft Parts

2021-02-23

　　This newspaper reports. New Research Stock portion ( 300159 On the evening of July 17, the company announced that its wholly owned subsidiary, Sichuan Mingri Aerospace Industry Co., Ltd. (hereinafter referred to as “Mingri Aerospace”), intends to acquire a minority equity stake in Sichuan Zhenqiang Forging Co., Ltd. (hereinafter referred to as “Zhenqiang Company”) through an equity acquisition and to acquire a minority equity stake in Chengdu Lianke Aviation Technology Co., Ltd. (hereinafter referred to as “Chengdu Lianke”) through a capital increase. At the same time, Mingri Aerospace plans to establish Xi’an Mingri Aerospace Industry Co., Ltd. (hereinafter referred to as “Xi’an Mingyu”) in joint venture with Xiamen Maxzhe Investment Management Co., Ltd. (hereinafter referred to as “Maxzhe”), a holding subsidiary of Xin Yan Shares.

　　The aforementioned investment will expand Tomorrow Aerospace’s international subcontracting business for civil aircraft components, align with the Sichuan Provincial Government’s call for regionally clustered development of industries with comparative advantages, vigorously advance the development of its defense-related product portfolio, actively participate in the construction of military-civilian integration pilot zones, acquire equity stakes in upstream and downstream enterprises, and leverage synergies to accelerate corporate growth.

　　Specifically, Tomorrow Aerospace, together with Jinshi Investment, Li Mian, and Max哲, will jointly invest RMB 50 million to establish Xi’an Mingyu. Among them, Tomorrow Aerospace will contribute RMB 20 million, Jinshi Investment will contribute RMB 17.5 million, and Max哲 will contribute RMB 5 million.

　　Xi’an Mingyu’s principal business activities include the manufacturing of machined aerospace and aviation components and sheet-metal parts, as well as the research, design, and manufacture of jigs, fixtures, molds, and ground support equipment for the aerospace and aviation industries, along with the R&D and technical support for various hydraulic and electronic systems.

　　In its early stages, Xi’an Mingyu will establish business cooperation with AVIC Shaanxi Hongyuan Aviation Forging Co., Ltd., leveraging the latter’s established, long-term, and stable trade partnerships with world-renowned companies such as Boeing, Airbus, Goodrich, Michelin-Dowty, GE, and Toshiba. Together, the two parties will undertake machining services for components under international subcontracting projects for civil aircraft, creating long-term complementary strengths that will facilitate order acquisition through their respective channels and drive mutual growth.

　　Meanwhile, Tomorrow Aerospace has acquired a 4% equity stake in Zhenqiang Company held by Yu Anhua, using its own funds of RMB 1.8 million. Upon completion of the equity transfer, Zhenqiang Company will become an equity-method subsidiary of Tomorrow Aerospace. Zhenqiang Company (formerly known as Sichuan Zhenqiang Forging Co., Ltd.) was established in 2003 and primarily manufactures various types of automotive half shafts and connecting rods, turbine blades for steam turbines and aircraft, aluminum alloy fan blades, U-shaped suspension clamps for heavy industrial boilers, and other special-shaped forgings.

　　Xinyan Shares stated that, leveraging Zhenqiang Company’s years of technological expertise in forging operations, it will use the company as a complement to the production and processing capabilities of Xi’an Mingyu’s subsidiary, thereby achieving synergistic development.

　　In addition, Mingri Aerospace has injected RMB 3.52 million of its own funds into Chengdu Lianke, acquiring a 4% equity stake. Founded in 2012, Chengdu Lianke is an emerging aerospace enterprise equipped with state-of-the-art facilities and a sophisticated, fully integrated production management system. The company has established a CNC machining production line, a carbon-fiber-reinforced-resin-composite molding production line, a digital assembly line, and specialized process-testing lines.

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