Strategic cooperation with the Chinese city of Qingdao

We have signed an industrial development cooperation agreement with Qingdao, a TOP 10 city in the northeastern Chinese economy.

As a follow up to the visit of László Boros, CEO of Magnus Aircraft Zrt. to China in September 2023, we welcomed a delegation from Qingdao City in Northeast China (a city of more than 10 million inhabitants) led by Mr. Cheng Dezhi, member of the Standing Committee of the Qingdao Municipal Party Committee, which includes not only decision-makers from the city but also representatives from the economic and academic world. During the visit, the delegation toured the composite manufacturing and aircraft assembly plant of our Pécs-Pogany headquarters, where we produce carbon fibre reinforced composite materials and aircraft parts, which we are also planning to implementin Qingdao based on our Far East strategy.

The strategic cooperation agreement was signed by Sun Shoubin, the head of the city's general aviation industrial chain, and László Boros, CEO of Magnus Aircraft Zrt.

"Magnus Aircraft has not been idle in recent years, actively building its representation and partner network with China. A year ago, we signed an agreement to establish a joint venture and build a manufacturing plant in China, and today's cooperation agreement with Qingdao is the next step in this process. The cooperation with Qingdao City will give us a competitive advantage in the Chinese market, which is of key importance, in the field of research and development, including the growing global market for composite products." said László Boros, CEO of Magnus Aircraft Zrt.

Qingdao is a famous national historical and cultural city and the birthplace of Chinese Taoism. With a population of more than 10 million, the city is the main hub of the One Belt One Road Asia-Europe Continental Bridge Economic Corridor and a strategic focal point for maritime cooperation. It is the economic centre of northeast China's Shandong Province, the leading city in the Blue Economic Belt area of the Shandong Peninsula, an important national pioneer zone for the development of modern maritime industry, the international shipping hub of Northeast Asia and the base for maritime sports. It is also an important cultural and scientific centre, home to 30% of China's marine research institutes and more than fifty institutions of higher education.