On June 23, the QCC APP revealed that Suzhou Xiangcheng Luxshare Precision Engineering Co., Ltd. has recently been incorporated, with Zhang Xueqi appointed as its legal representative and a substantial registered capital of 500 million yuan. This new venture boasts a diverse portfolio of business operations, encompassing the R&D, production, wholesale, and retail of automotive components and accessories, the manufacture of electronic specialty materials, electronic components, and optoelectronic devices, alongside the R&D of intelligent robots. According to the equity insights provided by QCC, Luxshare Precision holds an indirect 100% ownership of this company.