By Li Panpan

China’s leading laser equipment manufacturer Han’s Laser (大族激光) started a new project producing new equipment in Zhangjiagang of eastern China’s Jiangsu Province with RMB10 billion($1.49 billion) investment. A groundbreaking ceremony was held there on June 20. 

The project’s completion is expected in five years and to generate an annual sales of more than RMB20 billion($2.99 billion), according to the official news of the Suzhou Municipal Government. The project will produce equipment used in the high-power laser, new energy, laser and automation, display panel, semiconductor, and photovoltaic industries.

Founded in 1996 and listed on the Shenzhen Stock Exchange Market in 2004, Han’s Laser is the flagship of China’s laser industry and a world-famous laser equipment manufacturer.

The new project in Zhangjiagang will have 60% to 70% of the company’s total production capacity and will effectively relieve the domestic demand for upgraded intelligent manufacturing equipment, and become a world-class production and R&D base for the company, said the company.