GRG Plans CNY200mn Project to Expand Module Production

GRG Banking Equipment Co., Ltd. (SZSE: 002152) has announced that it plans to invest CNY 196 million in the phase-III expansion construction project for the industrial upgrade of core technology.

The project will be located at the industrial park of GRGBanking. According to the announcement, the project will focus on the core modules for self-service cash processing equipment ATM (Automatic Teller Machine) as well as intelligent transportation equipment TVM (Ticket Vending Machine), and is expected to produce 25,000 units of core modules annually after it reaches its full production capacity. The construction period is 14 months.

The goal of the project is to expand module production capacity of independent core technology, reduce production costs, improve profitability, and further promote the sustainable development of the company, by increasing production venues, purchasing advanced equipments and optimizing the production process..

The company also issued its semi-annual report of 2012 that its half-year revenue is CNY 936 million, with an increase of 7.89% year on year, and its net income of CNY 306 million increased by 12%.

News Media Contact: Benny Huang

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