On October 2, Zhuzhou Municipal People's Government signed a cooperation agreement with CRRC Times Semiconductor, symbolizing the official settlement of the construction project of industrialization of medium and low voltage power devices in Zhuzhou. Wang Gongcheng, Vice President of CRRC; and Chen Huiqing, Deputy Secretary of Zhuzhou Municipal CPC Committee and Mayor, attended the ceremony and delivered speeches. Li Donglin, Secretary of the CPC Committee and Chairman of CRRC Zhuzhou Institute; Liu Ke'an, General Manager; and Hu Changchun, Deputy Secretary of Zhuzhou Municipal CPC Committee and Secretary of the Political and Legal Committee of Zhuzhou Municipal Committee attended the signing ceremony.
According to the external investment announcement of Times Electric, the total investment of the Zhuzhou Project is about 5.293 billion yuan, and it will be implemented mainly by Zhuzhou CRRC Times Semiconductor Co., Ltd., a holding subsidiary of Times Electric. The products are mainly used in new energy power generation, industrial control and household appliances. When it is completed and put into production, the project can increase the production capacity of 8-inch medium and low voltage module base materials by 360,000 pieces every year. This is a major action of Zhuzhou Institute to fully implement the strategic positioning and mission of "three high and four new", and also a major achievement of Zhuzhou and CRRC Group in deepening cooperation and win-win development. After it is completed, the project will effectively improve the production capacity of the company's medium and low voltage component base materials, meet the market demand, promote the localization of related products, further consolidate and enhance the market position of the enterprise, and enhance its core competitiveness. Moreover, it will be of great significance to consolidate Zhuzhou's leading edge and position in the semiconductor industry, enhance the security stability and competitiveness of China's industrial chain supply chain, and promote the realization of high-level scientific and technological self-reliance.
Chen Huiqing congratulated on the signing of the agreement. He said that the new round of scientific and technological revolution and industrial reform is accelerating their evolution, China is accelerating the construction of a new development pattern, and the power semiconductor industry has broad prospects and unlimited potential. We shall seize the opportunity, take advantage of the situation and follow the trend, vigorously build a power semiconductor industry cluster with global influence, build new support for building "three highlands", and make a new bright business card for cultivating and manufacturing famous cities.
Chen Huiqing said that he sincerely hoped that all parties involved in the project would speed up the commencement of the project and realize the production and efficiency ASAP. We sincerely hope that CRRC Group will continue to care about and support Zhuzhou, further play the role of leading enterprises and the resource advantages of central enterprises, and drive more projects, funds and resources to be distributed in Zhuzhou. We will always adhere to the willing and eager attitude to serve and help enterprises, make every effort to provide first-class services, create first-class conditions and build first-class environment for project construction, and work with CRRC to build a model of win-win cooperation and mutual benefit between central and local governments.
Wang Gongcheng pointed out that the signing of the project marks that CRRC Semiconductor's investment in Zhuzhou has officially reached the scale of 10 billion yuan. As a core subsidiary of CRRC, Zhuzhou Institute has always been an example of CRRC's scientific and technological innovation and new industry development, and a leader in promoting China's power semiconductor technology breakthrough and industrialization.
Wang Gongcheng said that at present, CRRC Times's power semiconductors have been widely used in rail transit, power grid, new energy vehicles, new energy power generation and other fields, forming a good reputation in the industry. In recent years, under the guidance of the national strategy of "carbon peaking & neutralization", the new energy vehicle and new energy power generation industry has entered the fast lane of development. The signing will have a positive and far-reaching impact on the future development of the industry, and will also greatly alleviate the problem of core deficiency in new energy power generation and other fields. We hope that Zhuzhou Institute will promote project construction with high standards and quality, ensure that the project can reach its capacity and efficiency ASAP, seize the opportunity of new energy development, and promote the semiconductor industry to be bigger and stronger.