In order to promote the internationalization development of Hongfa, extend the new energy electronic products and its industrial chain, expand business scale, improve global sales channels, and enhance the company's brand awareness and core competitiveness in Europe, on December 12, 2023, Hongfa established a wholly-owned subsidiary, Hongfa Factory Germany GmbH, in Germany with a registered capital of 2 million euros.

The establishment of Hongfa's German factory will help meet the localization requirements of core customer supply chains, improve Hongfa's response speed in local technology, products, and services, enrich its international talent reserves and accumulate overseas manufacturing experience, while improving the internationalization level of the company's supply chain and enhancing its comprehensive competitiveness