Luxshare Precision: The news of 'abandoning a US$330 million investment in India” is untrue and there has been no investment decision in the country

News from this website on November 20, according to the Shenzhen Stock Exchange Interactive Trading Platform, Luxshare Precision responded to the previous rumor of "whether it is true to abandon the US$330 million investment in India": "Hello, This report is not true, The company has never had an investment decision of US$330 million in India. Thank you for your attention."

## Attached to the site: According to Indian Business Standard, Apple supplier Luxshare Precision has tried many times to expand its business in India in the past three years, but due to repeated failures, it has given up on investing in and setting up factories in India. Plan

reported that

Luxshare Precision "has decided" to transfer an investment of US$330 million (currently about 2.383 billion yuan) to Vietnam's Bac Giang Province

.

Compared with the Indian government's procrastination, the Vietnamese government immediately approved the investment last week, bringing its total investment in Vietnam to US$504 million (currently about 3.639 billion yuan). Indian media pointed out that "this is India's loss." On November 9, the Bac Giang Province Industrial Park Management Committee of Vietnam announced that Luxshare Precision will invest an additional US$330 million in the province to build new production facilities.

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