Jitai Co., Ltd. plans to invest in building a materials base to expand the glue market for LED drive power supplies and other applications.

On August 7, Jitai Co., Ltd. issued an announcement announcing that in order to further expand emerging rubber markets such as new energy vehicles, power batteries, and LED drive power supplies, the company agreed to the company's wholly-owned subsidiary Guangzhou Conghua Zhaoshun New Materials Co., Ltd. (hereinafter referred to as "Conghua Zhaoshun") to make external investments.

Specifically, the company's wholly-owned subsidiary Conghua Zhaoshun plans to invest in the construction of a "high-end new materials intelligent manufacturing base project" in Conghua District, Guangzhou with its own or self-raised funds, with an investment amount of approximately 300 million yuan. The project is located in Conghua District, Guangzhou City, Guangdong Province. The construction scale is tentatively set at 67 acres, and trial production is expected to be before 2027.

Jitai Co., Ltd. stated that this external investment is to further improve the company's business layout and meet emerging plastic markets such as new energy vehicles, power batteries, and LED drive power supplies, which will help promote the company's long-term and stable development.

According to data, Jitai Co., Ltd. is mainly engaged in the research and development, production and sales of sealants, coatings and electronic adhesive products. The company's electronic adhesive products are widely used in LED lighting, new energy vehicles, electronic and electrical, electric power, photovoltaic components and other fields. The current development trend of related businesses is good, and the second curve is accelerating.

In 2022, Jitai's electronic adhesive products achieved sales revenue of 163 million yuan, a year-on-year increase of 35.76%. Well-known companies such as Inventronics, MOONS Electric, and Shenzhen Maoshuo have become major customers of the company, and their products have entered the supply system of many large customers such as Osram and BYD.