By Li Panpan

(JW Insights) Apr 21 -- Chinese automated equipment and system integration solution provider Secote Precision (赛腾股份) said it plans to invest RMB2.5 billion ($363.5 million) to build a plant for testing equipment used in the production of semiconductor wafers, lithium-ion batteries, and consumer electronics, reported Yicai Global on April 19.

Secote Precision's main clients are Apple and the US tech giant's industrial chain partners, it said. Its overseas new energy clients include Nidec and Murata Energy Device Wuxi, while Sumco, SK Siltron, and Samsung are among its semiconductor clients, it added.

The new factory project will be located in the Nanxun Economic Development Zone in China's eastern Zhejiang Province, said the company on April 18, without disclosing further details, such as a construction schedule and the factory's capacity, according to the Yicai report.

Secote Precision Electronic's net profit soared 71 percent to RMB307 million ($44.6 million) in the 12 months ended December 31 from the year before, the Suzhou-based firm said last month. Revenue jumped 26.4% to RMB2.9 billion ($421.22 million) thanks to strong product demand, reported Yicai Global.

Founded in Suzhou, eastern China’s Jiangsu Province in 2001, Secote Precision provides automation solutions serving manufacturing, assembly, and packaging lines.