Asia Pacific Technology (002540.SZ) plans to establish a joint venture with Mitsubishi Aluminum to jointly promote the development of lightweight aluminum parts business in the automotive sector, especially in the new energy vehicle field.

Gelonghui, November 19 – Asia Pacific Technology (002540.SZ) announced that to deepen cooperation and jointly advance the lightweight aluminum component business in the automotive sector, particularly new energy vehicles, the company has agreed to sign an Investment Agreement with Mitsubishi Aluminum Co., Ltd. to jointly fund and establish a joint venture.

The registered capital of the joint venture shall be RMB 100 million. Mitsubishi Aluminum’s capital contribution shall be capped at the equity transfer proceeds received from the aforesaid equity transfer transaction: if such proceeds are equal to or exceed RMB 10 million, Mitsubishi Aluminum shall contribute RMB 10 million; if the proceeds are less than RMB 10 million, Mitsubishi Aluminum shall contribute the full amount of the equity transfer proceeds. Its equity ratio shall be determined based on the actual contribution amount and shall not exceed 10%. The Company shall cover all capital contributions beyond Mitsubishi Aluminum’s portion, with its equity ratio calculated by actual paid-in capital and no less than 90%. The two parties completed the signing of the Investment Agreement on the same day.

The two parties plan to jointly establish a joint venture tentatively named Jiangsu Yatai Linglv Technology Development Co., Ltd. (the final name subject to industrial and commercial registration). Its registered capital is RMB 100 million, and its business scope covers the design, research, development, manufacture and sales of processed aluminum products.

The Company specializes in the R&D, production and sales of high-performance aluminum extrusions, serving as a key supplier of component materials for China’s industrial sectors, especially the automotive industry. Mitsubishi Aluminum engages in high-performance aluminum extrusions, rolled aluminum products and deep processing businesses, and is a major global supplier catering to automotive, construction, machinery, chemical, food, printing and other industries. By setting up a joint venture in China, both sides will jointly boost the development of lightweight aluminum component business for automobiles, especially new energy vehicles.

Driven by rising global awareness of environmental protection and energy conservation, lightweighting and electrification have become major trends in the automotive industry. As one of the core lightweight automotive materials, aluminum is seeing continuous growth in its application and penetration. This partnership enables both parties to leverage their respective strengths for synergy and complementarity, seize market opportunities in the automotive and new energy vehicle segments, and meet market demand for high-performance aluminum auto components.

Guangzhou Oubake Building Materials Technology Co., Ltd. has a registered capital of RMB 20 million. According to Tianyancha big data, the enterprise has participated in 2 bidding and tendering projects, holds 21 patents, and possesses 7 administrative licenses.