The signing ceremony for a strategic cooperation agreement between Spectrum Control Systems (henceforth "Shanghai Spectrum," a wholly-owned subsidiary of Techmation) and Nantong Chaoli Rolling Machine Producing Co., Ltd. (henceforth "Nantong Chaoli") took place in Hai'an, Nantong on March 3, 2023.

The signing ceremony was attended by Zhao Feiping, the Chairman of the Board of Directors of Nantong Chaoli, Tang Ziqin, the General Manager of Nantong Chaoli, Yu Tianlong, the Operation Director of Ningbo Techmation, Wang Xinping, the Vice-General Manager of Ningbo Techmation, and Lv Xiong, the General Manager of Shanghai Spectrum.

Nantong Chaoli is a renowned manufacturer of professional rolling machines, offering a wide range of options. The enterprise is listed on the Sci-Tech Innovation Board of Jiangsu Equity Exchange (code: 695309) and has been recognized as a "Jiangsu Small Giant Enterprise". It is classified as a national high-tech enterprise and is also a member of the Confederation of Chinese Metalforming Industry.

The signing of the strategic cooperation agreement signifies the complete recognition of the initial collaborative accomplishments of both groups, and marks a fresh beginning to achieve mutual harmony for the benefit of their shared progress. Furthermore, it establishes a solid basis for the subsequent extensive and thorough strategic collaboration between both groups, supporting the industry's progression towards intelligent and high-end development and transformation, while also advancing the establishment of industry standardization. These factors will help strengthen the dominance of Chinese brands and gradually replace western brands.

Shanghai Spectrum serves as Techmation's research and development center for crucial components. It is dedicated to the research, design, and sales of specialist control system solutions and products in the metal processing industry.

Presently, Techmation has established partnerships with a number of domestic machinery manufacturers to provide numerical control system solutions for metalforming machinery and comprehensive control solutions for bending machinery, thereby contributing to its growth in the metal processing industry.