Stock Abbreviation: Q TECH
Stock Code: 1478.HK

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Indian production base of Q Technology has put into production 2019-10-16

(October 14, 2019) Q Technology (Group) Company Limited ("Q Technology") is pleased to announce that the first phase of its Indian production base located in Uttar Pradesh, India has been launched and completed the trial production successfully, marked a big leap forward to full production.

 

The manufacturing base in India is the first overseas investment project of Q Technology. It is an important strategic move for the Group to firmly promote a customer-centric service platform to provide high-quality products and timely services to our customers in India. The manufacturing base is located in Greater Noida, NCR of Uttar Pradesh, India. The initial investment is expected to be approximately RMB 300 million. The Company will build a high-end manufacturing capacity of 4 million camera modules per month and strive to put into production before the end of the year. The second phase of investment will be formally confirmed after signing the land use agreement with the government. The company is dedicated to position the India operation as the second manufacturing base after the headquarter in Kunshan, China and continues to provide quality domestic service.

 

Mr. He Ninging Chairman of Q Technology said: “India has a large population and an extensive geographical area. Demand for smartphones and other smart devices is huge, which enable the favorable development of global branded smartphone manufacturer including Samsung, vivo, OPPO and Xiaomi. As a leading provider of intelligent vision solutions, Q Technology is dedicated to build a successful business in India to promote customer-centric service. The strategies of intelligent manufacturing, new technology research and development and vertical integration will continue to implement and realize the Group's vision of “illuminate things”. We believe the long-term development plan of Indian manufacturing base could create values for shareholders in the long run, so as to China and India, in view of strengthening the strategic partnership between the two countries and jointly achieve the national rejuvenation.”