GW COMPOS: Subsidiary establishes joint venture with Shangong Feiren to form a civil aircraft parts company

On September 18th, Guangwei Composites' wholly-owned subsidiary Guangwei New Materials signed an investment cooperation agreement with Shangong Shenbei Holdings' subsidiary Shangong Feiren. The two parties will register a joint venture company focused on civil aircraft components, with a registered capital of 80 million yuan. Shangong Feiren will contribute 60 million yuan for a 75% stake, while Guangwei New Materials will contribute 20 million yuan for a 25% stake. The joint venture will focus on the research, development, manufacturing, and sales of carbon fiber composite structural components and related products for light aircraft, aiming to fully leverage the technological synergy and industrial resource advantages of both parties, enhance the process level of aviation composite components, and significantly reduce the manufacturing costs of domestic aviation components