On February 14, 2022, LiuGong and Thai distributor Yontrakarn Machinery Company Limited (hereinafter referred to as "Yontrakarn") held a joint venture agreement signing ceremony online and offline. This is Liugong's first joint venture in the RCEP area. Guangxi Liugong Machinery Co., Ltd. Party Secretary, Chairman and Chief Executive Officer (CEO) Zeng Guangan, Deputy Party Secretary Li Yuning, Vice President Luo Guobing and other relevant leaders, and Yontrakarn President Ms. Mukda Pruitthithada, General Manager Mr. Kittichai Pruitthithada, Director Ponjira Pruitthithada Ms. attended the signing ceremony.

Chairman Zeng Guangan said: LiuGong and Yontrakarn have been cooperating sincerely and respecting each other for a long time, making use of their respective advantages to complement each other's strengths, and jointly promote the long-term sustainable development of the business in Thailand. The two parties signed a contract to establish a joint venture, aiming to get closer to local customers and contribute our strength to the construction machinery industry in Thailand.

Yontrakarn

Established in 1989, Yontrakarn is one of the leading construction machinery distributors in Thailand with 16 branches and 150 professionals covering most of the country. During the 11 years of cooperation, LiuGong and it have achieved excellent results in the local market.

In 2021, LiuGong exported more than 400 pieces of equipment to Thailand. The local market share of loaders exceeds 40%, ranking first for many consecutive years. With a good reputation in the market, LiuGong has won the trust of the top company in Thailand, CP Group, and cooperated with their professional university to establish LiuGong First Station International Craftsman College to cultivate more talents for the construction machinery industry.

In early January 2022, Liugong loaders sailed to Thailand on a ship in Shenzhen Port. This is the first batch of construction machinery and equipment exported by Guangxi and Liugong under the Regional Comprehensive Economic Partnership (RCEP).

2022 is a crucial year for the "Thailand 4.0" and "Eastern Economic Corridor (EEC)" plans proposed by the Prime Minister of Thailand. Signing a joint venture with a Thai distributor, as another milestone in LiuGong's international development, will promote the company's in-depth development in the Asia-Pacific region and the Thai market.

Ms. Mukda Pruitthithada said, "I believe this new support and cooperation will further drive the success of LiuGong and its more product lines in Thailand. As strategic partners, we will work closely together to build LiuGong into a first-class engineering company. Machinery brand."

Looking into the future, LiuGong, Yontrakarn and the joint venture will strengthen cooperation in sales, service, financial support and social responsibility. Through new platforms and strategies, they will further promote a full range of product lines, serve Thai customers more professionally, and enhance their brands. Influence.Editor/Ma Xue