Sieyuan Electric's subsidiary plans to invest 480 million yuan to expand the production capacity of transformer-related businesses.

Sieyuan Electric (002028.SZ) announced that its wholly-owned subsidiary, Jiangsu Siyuan Special Transformer Co., Ltd. (referred to as "Siyuan Special Transformer"), plans to acquire the land use rights of the project through bidding and auction, and build a factory for the production, assembly, and storage of transformer-related products. The estimated investment is 480 million yuan (excluding land investment). This capacity expansion project will be funded by Siyuan Special Transformer, and after completion, it will be used for the production of transformer-related products, which will help further expand the company's production capacity and delivery capabilities in the transformer business.