CCSC Technology International Holdings Limited announced that the Company plans to commence construction of a new Europe supply chain management center (the ?Center?) located in Municipality of Merosina, Republic of Serbia (?Serbia?), in August 2024. The 50,000-square-meter facility will be CCSC?s first supply chain center project and is scheduled for completion in 2025. Once completed, it will serve as the headquarters of the Company's supply chain operations in Europe. To further optimize production efficiency and boost synergy, in February 2024, CCSC formed a new subsidiary, CCSC Technology Doo Beograd, in Belgrade, Serbia.

This subsidiary will be responsible for the operations of its new Europe supply chain management. The Company plans to adopt modern automation solutions and three-dimensional storage technology to optimize the use of the storage space, and leverage the latest digital technologies to build a smart supply chain management platform at the Center. The facility will serve as a key integrated supply chain transit hub, supporting the Company's operations across Europe.

This project is fully supported by the Merosina government, with a signed memorandum of understanding marking the collaboration between CCSC Technology Doo Beograd and the Municipality of Merosina. The total investment for the Center is estimated at USD 6 million.