Company Announcements

SHENZHEN, China , April 23, 2026 /PRNewswire/ -- Inovance Technology (SZSE: 300124) held a groundbreaking ceremony for its new R&D and manufacturing base in the Jinpu New Area of Dalian, Liaoning Province. The facility is dedicated to the development and production of high-voltage permanent magnet synchronous motors (PMSMs) and represents a total investment of RMB 2 billion (approx. USD 280 million).

Covering 174,500 m², the base will be built in two phases, with Phase 1 accounting for approximately 160,000 m² of building area including production, R&D, and administrative facilities. Construction is expected to be completed by the end of 2027.

At full capacity, the facility will produce 10,000 PMSM sets annually, covering a power range from 30 to 3,000 kW, voltage ratings from 380 V to 10 kV, and torque output from 3 to 200 kN•m. Projected annual output value is approximately RMB 5 billion (approx. USD 700 million). The motors serve heavy industries including mining, port operations, power generation, and metallurgy.

"Dalian is our first major investment in northern China, and an important step in expanding our high-power motor capability for global markets," said Zhu Xingming, Founder and Chairman of Inovance. "The city's port infrastructure and concentration of engineering talent make it well positioned to serve our customers in mining, ports, and other heavy industries where high-efficiency drive systems are essential."

Electric motor systems account for over 40% of global electricity consumption, according to the IEA. PMSMs can reduce energy losses by 15–30% compared with conventional induction motors, making them a key technology for industrial decarbonization. All buildings on site are planned with rooftop solar PV and energy storage systems, as the facility pursues national Smart Factory and Green Factory certifications.

About Inovance Technology

Inovance Technology (SZSE: 300124) is a global provider of industrial automation, motion control, and digital energy solutions. Headquartered in Shenzhen with operations in Suzhou, the company serves customers worldwide across the manufacturing, energy, and infrastructure sectors.

Explore more at: https://www.inovance.com/global

CONTACT: Dongxu Shen, shendongxu@inovance.com

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