Folinn Electric & LS Electric cooperaton

On April 24th, Mr. Gwoneung Jeong, the Head of LS Electric's Korean headquarters, led a delegation of nine technical experts to visit and explore our company. They had a discussion and exchange with our Chairman, Zhong Zhibing, and General Manager, Zhong Zhibiao. This visit further strengthened the communication and cooperation between both parties and broadened the horizons of our technical personnel.
 
LS Electric, formerly known as LG Electric, was established in 1974 and is currently ranked first among industrial electrical automation product manufacturers in South Korea. LS Electric's subsidiary, LS Electric (Shanghai), with whom we cooperate, serves as LS Electric's headquarters in the Chinese region. From the initial ODM OEM cooperation to the current joint development, our collaboration with LS Electric has made significant breakthroughs.
Since signing the development agreement in January 2014, both parties have been striving for intensive cooperation. Despite differences in corporate culture and management systems, we have worked hard to reconcile our differences, seek common ground, and learn from each other, resulting in rapid progress in our collaboration. LS Electric arranges for their researchers to visit our company every month to conduct research and discussions on jointly developed products. In-depth research and analysis have been conducted on key components such as unit box structure, control systems, and PCB boards.
 
Minister Jeong showed great concern for the progress of our joint development projects and expressed affirmation for the achievements we have made so far. He also expressed confidence in the long-term collaboration between LS Electric and Folinn Electric and expressed delight in the deep cooperation already established in certain areas. Moving forward, both parties will leverage their advantages in procurement costs, product manufacturing, and technological innovation, further expanding the brand effects of both companies. We will continue to explore and innovate in our cooperation, maintain close contact, strengthen communication, and carry forward our friendly cooperative relationship.