Wingtech recently published an announcement, stating that the company will add a CNY135 million new investment in its second-tier subsidiary in India.
Meanwhile, Wingtech's wholly-owned subsidiary Wingtech Hong Kong established a joint venture named PT Wingtech Indonesia with a local company in Indonesia. Wingtech Indonesia has registered capital of CNY24 million, including CNY14.4 million from Wingtech Hong Kong and CNY9.6 million from the Indonesian local company.
Wingtech Indonesia is mainly engaged in the processing, manufacturing, and sales of mobile phones, tablets, and laptops; software development and sales; and material production and equipment import.
The two investments are both used to expand production capacity and related to major business operating activities. With the new investment, Wingtech India is expected to realize initial monthly production capacity of three million mobile phones and mobile phone shells. Wingtech Indonesia is expected to realize monthly production capacity of 500,000 mobile phones.
It is said that Wingtech's major clients include Huawei, Xiaomi, Oppo, Nokia, and LG.