Highly and Haier Build New Joint Compressor Factory in Zhengzhou

On April 8, a groundbreaking ceremony was held for the Zhengzhou air conditioning compressor production base, jointly financed by Highly and Haier. This joint venture (JV) has a registered capital of RMB 200 million (about US$ 28.9 million), of which Highly invested RMB 102 million (about US$ 14.7 million) in cash, holding a 51% stake, and Haier invested RMB 98 million (about US$ 14.6 million) in cash, holding 49%.