July 18 – Xiamen Sunrise Wheel Group (002593) plans to inject 400 million yuan into Sichuan Sunrise Metal Industrial Limited, a wholly controlled subsidiary of the firm, reports China Business News, citing a company filing.

The subsidiary will implement an automotive steel ring and steel structure project in Nanchong city, home to one of Sichuan province’s largest industrial parks devoted to automobile manufacturing.

The project will reduce Sunrise Group’s supply cycle by as much as 21 days and trim annual logistics fees by 35 million yuan, the source said.

Sunrise group is a major exporter to markets in Southeast Asia and Brazil.