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Wuhan Huagong Laser Engineering Co., Ltd. (Huarong Laser), a wholly-owned subsidiary of Huagong Technology, will form a joint venture with Luxshare Precision Technology (Yancheng) Co., Ltd. named Suzhou Lihua Technology Co., Ltd. The joint venture will focus on 3D additive SLM manufacturing technology applications in 3C consumer, automotive electronics, and medical fields. Huarong Laser will invest CNY 140 million for a 70% stake, and Luxshare Precision will invest CNY 60 million for a 30% stake, with a total registered capital of CNY 200 million.