$CCTG News: CCSC Technology International Holdings
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Posted On: 06/25/2024 10:50:19 AM
$CCTG News: CCSC Technology International Holdings Limited Enters into International Purchase Agreement with SHI / LIGHTCARE-SOLUTIONS ApS
Hong Kong, June 20, 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 it has entered into an international purchase agreement (the “Agreement”) with SHI / LIGHTCARE-SOLUTIONS ApS (“SHI”), a Danish company that primarily engages in the design and supply of healthcare lighting products.
Pursuant to the Agreement, CCSC will manufacture and supply healthcare lighting products based on the designs provided by SHI to customers in the Asia Pacific region. Under this Agreement, the parties estimate that the annual purchasing amount will start at €0.50 million (approximately US$0.54 million) in 2025 and increase to €3.50 million (approximately US$3.76 million) in 2030.
Mr. Kung Lok Chiu, Chief Executive Officer and Director of the Company, commented, “We are thrilled to partner with SHI to expand our healthcare lighting business in the Asia Pacific market. This partnership aligns with our strategic goal of diversifying our product portfolio and expanding our presence in the healthcare sector. Through our collaboration with SHI, we are poised to deliver innovative and effective lighting solutions that meet the needs of customers in the healthcare industry. We believe this collaboration will drive growth for both companies in the foreseeable future.”
About CCSC Technology International Holdings Limited
CCSC Technology International Holdings Limited, is a Hong Kong-based company that engages in the sale, design and manufacturing of interconnect products. The Company specializes in customized interconnect products, including connectors, cables and wire harnesses that are used for a range of applications in a diversified set of industries, including industrial, automotive, robotics, medical equipment, computer, network and telecommunication, and consumer products. The Company produces both OEM (“original equipment manufacturer”) and ODM (“original design manufacture”) interconnect products for manufacturing companies that produce end products, as well as electronic manufacturing services (“EMS”) companies that procure and assemble products on behalf of such manufacturing companies. The Company has a diversified global customer base located in more than 25 countries throughout Asia, Europe and the Americas. For more information, please visit the Company’s website: http://ir.ccsc-interconnect.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue”, or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
CCSC Technology International Holdings Limited
Investor Relations Department
Email: ir@ccsc-interconnect.com
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
Hong Kong, June 20, 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 it has entered into an international purchase agreement (the “Agreement”) with SHI / LIGHTCARE-SOLUTIONS ApS (“SHI”), a Danish company that primarily engages in the design and supply of healthcare lighting products.
Pursuant to the Agreement, CCSC will manufacture and supply healthcare lighting products based on the designs provided by SHI to customers in the Asia Pacific region. Under this Agreement, the parties estimate that the annual purchasing amount will start at €0.50 million (approximately US$0.54 million) in 2025 and increase to €3.50 million (approximately US$3.76 million) in 2030.
Mr. Kung Lok Chiu, Chief Executive Officer and Director of the Company, commented, “We are thrilled to partner with SHI to expand our healthcare lighting business in the Asia Pacific market. This partnership aligns with our strategic goal of diversifying our product portfolio and expanding our presence in the healthcare sector. Through our collaboration with SHI, we are poised to deliver innovative and effective lighting solutions that meet the needs of customers in the healthcare industry. We believe this collaboration will drive growth for both companies in the foreseeable future.”
About CCSC Technology International Holdings Limited
CCSC Technology International Holdings Limited, is a Hong Kong-based company that engages in the sale, design and manufacturing of interconnect products. The Company specializes in customized interconnect products, including connectors, cables and wire harnesses that are used for a range of applications in a diversified set of industries, including industrial, automotive, robotics, medical equipment, computer, network and telecommunication, and consumer products. The Company produces both OEM (“original equipment manufacturer”) and ODM (“original design manufacture”) interconnect products for manufacturing companies that produce end products, as well as electronic manufacturing services (“EMS”) companies that procure and assemble products on behalf of such manufacturing companies. The Company has a diversified global customer base located in more than 25 countries throughout Asia, Europe and the Americas. For more information, please visit the Company’s website: http://ir.ccsc-interconnect.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue”, or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
CCSC Technology International Holdings Limited
Investor Relations Department
Email: ir@ccsc-interconnect.com
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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