Zhongshan Torch Industries Group and Shenzhen Yongtai Photoelectric Co Ltd signed a contract on the Yongtai Photoelectric LIDAR Module R&D and Production Base on July 16, marking this 230-million-yuan project has settled in Zhongshan's Torch High-tech Zone.

With a planned land area of about 10 mu, the project will be a headquarters base engaged in product R&D and manufacturing. It targets 2 frontier markets, smart home and intelligent connected vehicle, and works to develop and market laser radar sensor products. Upon completion, its annual operating income is estimated to hit 200 million yuan.

Founded in May 2011 and headquartered in Shenzhen's Bao'an District, Yongtai Photoelectric is a high-tech enterprise that integrates the development, production, marketing of products and services. It has established production bases in Hubei, Henan and other places.