On August 5, MIRSYSS Technology unveiled its plan to establish a wholly-owned subsidiary, Zhuhai Mingyao New Material Technology Co., Ltd., with the aim of propelling forward the industrialization endeavor centered around indium phosphide semiconductor materials. This ambitious project is slated to unfold in two distinct phases: the inaugural phase will encompass a 12 million yuan investment, dedicated to constructing a state-of-the-art research and development laboratory and outfitting it with 20 sets of cutting-edge process verification equipment. The subsequent phase is projected to entail an investment spanning from 200 million to 260 million yuan, earmarked for procuring 280 sets of production apparatus along with the requisite supporting infrastructure. The company's board of directors has conferred upon the management team the authority to initiate preliminary tasks, including environmental impact assessments and safety evaluations, well in advance.