On the morning of May 13, Cedar Commodities Supply Chain Group and Guangzhou-Yingde Industrial Park (hereinafter referred to as "Guangde Park") of Guangzhou-Qingyuan Special Cooperation Zone signed the Investment and Cooperation Agreement for Cedar Copper-Based New Materials Industrial Base. Fan Jiayu, Director of Cedar Holdings and Chairman of Cedar Commodities Supply Chain Group, Peng Zhiwen, Secretary of Interim Party Working Committee and Director of the Interim Administration Committee of Guangde Park, signed the agreement as representatives; Huang Dong, Member of the Party Working Committee and Deputy Director of the Administration Committee of Guangzhou Development District attended the ceremony.

According to the agreement, Cedar Holding will establish a copper-based new material industial base in the Guangde Park. Focusing on advanced manufacturing, the industrial base is estimated to generate an annual output of RMB 2.5 billion once completed.  

Huangdong said Cedar Holdings has been in a stable partnership with Guangzhou Development District for years. This cooperation involving Gunagde Park is going to take the friendly cooperative relationship forward. As indicated by Peng Zhiwen, Guangde Park will do its best to help with construction and operation of the new industrial base so that Cedar's copper business and the industrial park will enjoy sustainable growth.

Fan Jiayu expressed its appreciation toward Guangzhou Development District and Guangde Park for their support.  He stressed that Cedar Commodities had the incumbent' s advantage in non-ferrous metal and focused on new metal materials business. He expected a sound business environment of the industrial park and superb service provided by a professional team, which ensures the industrial base is to be put into operation successfully.

Built by Guanzhou Development District, Guangde Park is one of the three industrial parks of Guangzhou-Qingyuan Special Cooperation Zone. It is designed to promote the integration of Guangzhou and Qingyuan as well as the coordinated development of Pearl River Delta and Guangdong-Hong Kong-Macau Greater Bay Area.

Building on its experience and expertise in commodities sector, Cedar Copper under Cedar Commodities has become one of the largest manufacturers of enameled wires and copper rods in South China. It is picking up its pace to expand business presence in advanced manufacturing including copper-based new materials. Currently, Cedar Holdings boasts top-notched R&D strengths and manufacturing processes of sophisticated materials including fine-enameled wire which are widely used in 5G industry, new energy vehicles, smart appliances and other advanced equipment manufacturing.