# Guangwei Composites invests CNY 28 million in joint venture for gas cylinder business

Guangwei Composites (300699.SZ) signed an agreement on December 28, 2023, to invest CNY 28 million in a joint venture, Ketai (Shandong) Special Equipment Technology Co., Ltd., holding 20% equity, to deepen its gas cylinder business expansion.

- Type: Investment
- Announced: 2023-12-28
- Where: Weihai, Shandong, China
- Value: $3.92M (28.0M CNY)
- Status: announced
- Products: carbon fiber composite gas cylinders, vehicle hydrogen storage cylinders
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Guangwei Composites](https://endata.com/companies/40825.md) (investor)
- [Beijing Ketai Technology](https://endata.com/companies/74688.md) (partner)
- [Luoyang Yuhua Rongtou Lianhe Investment Partnership](https://endata.com/companies/74689.md) (investor)
- [Weihai Gangfa Equity Investment Fund Partnership](https://endata.com/companies/74690.md) (investor)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/1046985.html), 2023-12-28: "公司参与由北京科泰克科技有限责任公司主导设立并在威海运营的气瓶项目，是从自身业务发展实际需求出发。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.