CCSC Technology International Holdings Limited Announces Plan for New Supply Chain Management Center in Central Europe

Hong Kong, May 16, 2024 (GLOBE NEWSWIRE) -- CCSC Technology International Holdings Limited (the “Company” or “CCSC”) (Nasdaq: CCTG), a Hong Kong-based company that engages in the sale, design and manufacturing of interconnect products, including connectors, cables and wire harnesses, today 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 our 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 US$6 million.

Mr. Kung Lok Chiu, Chief Executive Officer and Director of the Company, commented, "As part of our on-going strategic plan, we will continue to widen our strategic moat by investing in supply chain infrastructure to further enhance the agility and resiliency of our business. We believe our new Center will better support our business by driving long-term growth. This initiative is also crucial in our endeavors to become a leader in the interconnect products market. We are committed to adopting the most advanced technologies, developing replicable and scalable solutions, and fostering innovative ideas and products."