WG Tech (603773.SH) plans to continue investing in the construction of a project with an annual production capacity of 1 million square meters of chip-level packaging carrier boards by Tongge Wei in Hubei.

WG Tech (603773.SH) announced that, in view of the recent completion of the acquisition of 70% equity of Hubei Tongge Microelectronics Technology Co., Ltd. ("Hubei Tongge Micro") held by Hubei Tianmen High-tech Investment and Development Group Co., Ltd., Hubei Tongge Micro has changed from a company in which WG Tech held equity to a wholly-owned subsidiary of the company. As the implementing entity of the "Annual Production of 1 Million Square Meters of Chip-level Packaging Carrier Board Project", the total investment amount of the project is expected to be RMB 1.216 billion. As of now, the project has received an investment of RMB 118 million, and the planned follow-up investment amount for the project is RMB 1.098 billion. The company agrees to continue investing in the construction of the "Annual Production of 1 Million Square Meters of Chip-level Packaging Carrier Board Project" through Hubei Tongge Micro. The announcement shows that this investment will accelerate the promotion of the company's glass-based TGV technology in the market for semiconductor advanced packaging and new generation semiconductor display products, as well as the progress of industrial cooperation.