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Sugon to Establish RMB 1.4 Bln Global R&D Headquarters

Dawning Information, 7/21/17

Tianjin-based server manufacturer Dawning Information Industry (Sugon) (603019.SH) has announced a plan to establish a wholly owned subsidiary with RMB 1.4 bln to create a global R&D headquarters.

Sugon has signed an agreement with the district government of Laoshan District in Qingdao for support to build the global R&D headquarters, which will integrate scientific research, international product R&D, solutions R&D, international business operations, ecosystem development, and talent cultivation. To ensure the smooth and efficient implementation of the project, Sugon will register a wholly owned subsidiary in Laoshan District to serve as the project's operating entity. The subsidiary is provisionally named Dawning Information Industry International.

The current investment complies with the company's internationalization strategy, and will improve the R&D and production of core technology, including high-end services and big data. The project will initiate research, development, and manufacturing plans for internationalized products, and further Dawning Information's expansion into overseas markets.

Keywords: hardware server Dawning R&D big data 603019.SH

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