On June 17, JIANGSU YAWEI MACHINE TOOL announced that the company used its own funds to set up a wholly-owned subsidiary Jiangsu Yawei Precision Laser Technology Co., Ltd. (hereinafter referred to as "Yawei Precision Laser"). The registered capital of Yawei Precision Laser is RMB 50 million.

Yawei Precision Laser's business scope includes the development, design and sales of laser equipment, automation equipment, laser generators and related components and components; Development and sales of computer software; Own equipment rental; Domestic Trade; Self-operated and agent import and export business of various commodities and technologies. (Projects subject to approval according to law may be operated after approval by relevant departments)

YAWEI MACHINE TOOL said that the purpose of setting up a subsidiary is to focus on the horizontal expansion of the company's laser business, vigorously develop the emerging precision laser processing equipment business, further consolidate the company's laser business industry advantages and improve its comprehensive competitiveness. In addition, this investment is conducive to optimizing the company's resource allocation, improving the company's operating efficiency, in line with the company's development strategy.