Zhongshan signed an investment agreement with Sanhua Holding Group on January 17. Under this agreement, Sanhua will invest 3 billion yuan to construct a manufacturing base in Zhongshan, which will also be the company's South China headquarters base.

Founded in Xinchang, Zhejiang Province in 1984, Sanhua is a world leader in building HVAC, home appliances and automotive thermal management. With an annual output value of 52.3 billion yuan, the company was ranked among China's top 500 enterprises in 2022.

To better serve its clients in South China, Sanhua will construct a manufacturing base for new energy vehicle thermal management parts in Zhongshan. Located in the Huangpu Port area of the Zhongshan Intelligent Home Appliances Industrial Park, the project has a total investment of 3 billion yuan and is expected to achieve an annual output value of 5 billion yuan at its full capacity.