On August 6, Aoshikang Technology Co., Ltd. (hereinafter referred to as “Aoshikang”), a global leader in PCB manufacturing, and Meiko Electronics Co., Ltd. (hereinafter referred to as “Meiko”), a Japanese PCB manufacturer, jointly announced the signing of a Cooperation Intent Agreement. Both parties will increase the capital of Aoshikang’s wholly-owned subsidiary in Singapore, JIARUIAN PTE. LTD., through cash investments.

Upon completion of the capital increase, Aoshikang will hold no less than 85.1% of JIARUIAN's equity, while Meiko will hold no more than 14.9%. Both parties will maintain their existing customers and collaborate to develop new ones, respecting each other’s customer channels.

Currently, Meiko is constructing a new PCB factory in Hoa Binh Province, Vietnam. Covering 9.2 hectares, this factory will focus on producing automotive printed circuit boards and is expected to begin operations in 2025. Meiko stated that in response to growing demand and the intensified economic tensions between the US and China, which have led to restrictions on using Chinese-made parts in cars exported to the US, they decided to form a business alliance with Aoshikang. Consequently, more companies are turning to Southeast Asian countries for printed circuit board procurement.

Aoshikang expressed that through this cooperation, Meiko will inject its excellent overseas management experience and leading industry status into Aoshikang’s Thai subsidiary, SUNDELL Technology. This partnership is expected to promote efficient downstream business layout and accelerate the application and promotion of existing products in AI servers, AI PCs, communication and network equipment, automotive electronics, and other fields, thereby continuously enhancing Aoshikang’s overall competitiveness and market position.

Key Points of the Cooperation Intent Agreement

1. Investment and Equity:

● Meiko will invest USD 20 million (approximately RMB 143 million) in JIARUIAN by April 15, 2025.

● Post-investment, Aoshikang will hold at least 85.1% of JIARUIAN’s equity, and Meiko will hold up to 14.9%.

2. Management and Operations:

● Aoshikang will be responsible for the management and operation of JIARUIAN and its subsidiary factory in Thailand.

● Meiko will appoint one director to JIARUIAN’s board.

● Meiko will provide product certification and quality management guidance to the Thailand factory under JIARUIAN.

About JIARUIAN:

Established in 2022, JIARUIAN’s main business includes other holding companies and wholesale trade of various goods without a dominant product. Aoshikang holds 100% equity in JIARUIAN, and SUNDELL Technology is a wholly-owned subsidiary of JIARUIAN.

About Aoshikang

Aoshikang (002913.SZ) has a global presence centered in Hunan Yiyang, Guangdong Zhaoqing, and Thailand. It has the capability to mass-produce various large-size and small-size boards related to servers with 18 or fewer layers, and can produce customizable orders of up to 28 layers in small batches. The testing boards can achieve more than 36 layers. The company was successfully listed on the Main Board of the Shenzhen Stock Exchange on December 1, 2017 (stock code: 002913). With business spread across the Asia-Pacific, Europe, and the Americas, Aoshikang is highly recognized by Fortune 500 companies such as Huawei, Lenovo, Foxconn, BYD, Midea, MOBIS, and Samsung.

About Meiko:

Founded in 1975, Meiko Electronics Co., Ltd. (6787.T) has a registered capital of JPY 12.888 billion and is a renowned Japanese printed circuit board (PCB) manufacturer. The company is led by CEO Yuichiro Nameya. Meiko offers a wide range of products, including double-sided, multilayer, HDI, any-layer, flexible, and rigid-flex PCBs, which are used in automotive electronics, communication devices, industrial equipment, and consumer electronics.

Editor：King&Lulu

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