500 million expansion hub Unit product project

Million to Qianchao (000559) announced that the company plans from Zhejiang Wanxiang Seiko Co., Ltd. as a company specializing in the production of hub unit products company, the organization through the establishment of a wholly-owned subsidiary in Taizhou, Jiangsu, Seiko Jiangsu Co., Ltd. implementation of automotive hub Unit products Add 10 million sets/year capacity expansion project.　　Jiangsu Seiko Plan total investment of 500 million yuan, registered capital of 100 million yuan, all from million to Seiko input. The company said that the car hub unit products are the main development of the company's leading products, has now formed an annual output of 10 million sets of production capacity.　　After the investment is completed, it is advantageous to the further expansion of the business scale of the automobile hub Unit product and the improvement of the Seiko performance. At the same time, the company plans to be part of the testing equipment and other fixed assets to 20.7273 million yuan transfer to the controlling shareholder million group. In addition, in order to solve the company's subsidiaries in the Xiaoshan District block production and management sites exist certificate and property certificate separation, the company subordinate six subsidiaries in the Xiaoshan District block of the real estate transfer to the Wanxiang Group, the total transfer amount of about 200 million yuan.