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HONG KONG - CCSC Technology International Holdings Limited (Nasdaq:CCTG), a small-cap technology company with a market value of $27.1 million that has seen its stock surge over 100% in the past week, announced Thursday that its Serbian subsidiary has entered into a memorandum of understanding with Konstruktor Group to design and build a new European supply chain management center in Merosina, Serbia.
The Hong Kong-based manufacturer of interconnect products said construction of the facility is estimated to begin in November 2025, with Konstruktor Group, a Serbian construction company, providing services on a turnkey basis.
The project aims to strengthen CCSC’s logistics and manufacturing infrastructure in Central Europe, according to the company’s statement. The facility is intended to serve as a logistics and manufacturing hub supporting CCSC’s operations in the European market.
"Our partnership with Konstruktor Group marks an important step in realizing our vision of building a state-of-the-art supply chain management center in Serbia," said Kung Lok Chiu, Chief Executive Officer and Director of CCSC.
The announcement follows CCSC’s previously disclosed plans to establish a European supply chain management center in Merosina. The company specializes in customized interconnect products including connectors, cables and wire harnesses used across various industries such as industrial, automotive, robotics, and medical equipment.
CCSC Technology International Holdings serves customers in more than 25 countries throughout Asia, Europe and the Americas, according to the press release statement. The company holds more cash than debt on its balance sheet, positioning it well for this expansion initiative.
In other recent news, CCSC Technology International Holdings Limited announced the closing of its public offering, raising approximately $7.06 million in gross proceeds. The Hong Kong-based company sold 11,766,627 Class A ordinary shares, each accompanied by two warrants, at a combined price of $0.60 per share. The warrants, which have an exercise price of $0.72 per share, will expire five years from issuance. This offering was conducted on a best-efforts basis, and the proceeds are expected to support the company’s strategic initiatives. The public offering was priced at $0.60 per share, a decision that led to a notable stock decline of 16.9% following the announcement. Each warrant allows the purchase of additional Class A ordinary shares, representing 120% of the public offering price. The offering is anticipated to close around October 2, 2025, pending customary closing conditions.
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