By Li Panpan

China’s leading connection system provider Recodeal’s Mexican factory, its first factory overseas, has been under construction and is expected to start trial production in the second quarter of 2023.

Recodeal (瑞可达) shared this information on its investor relationship management platform on the Shanghai Stock Exchange on August 15.

Founded in January 2006 and listed on the Shanghai Stock Exchange in July 2021, Recodeal is based in Suzhou in eastern China’s Jiangsu Province and specializes in the design and manufacture of connection systems and microwave components used in new energy vehicles, communications, and industrial applications.

The company said it would gradually establish overseas factories in Southeast Asia and Europe based on market needs.

In 2021, Recodeal achieved a total operating income of RMB901 million ($132.8 million), a year-on-year increase of 47.56%, and the net profit attributable to shareholders of RMB115 million ($16.95 million), a year-on-year increase of 56.39%, mainly because of its new energy related product sales.