Ruike Electronics (Wenzhou) Co., Ltd., a wholly owned subsidiary of Erayak Power Solution Group Inc., has secured usage rights for a significant parcel of coastal and land area in Wenzhou's Longwan District. This strategic move, formalized through an agreement with the Wenzhou Longwan District Natural Resources and Planning Bureau, allows Ruike to develop the site for industrial purposes over the next 50 years. The project will facilitate the construction of a generator automation plant and an intelligent warehousing system, aiming to enhance production efficiency and delivery timelines, with completion anticipated by 2027. Ruike has invested RMB 17.57 million in these rights, with additional plans involving a preliminary construction project agreement with Zhongxia Construction Co., Ltd., valued at RMB 80 million. The initiative underscores Erayak's commitment to expanding its industrial footprint and advancing technological capabilities.
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