"Xin Zhoubang: Concentrate resources to build the Huizhou Zhoubang Phase IV electronic chemical project

On November 29th, Xin Zhoubang disclosed that after comprehensive demonstration of industrial integration, transportation costs, and operational management, the company decided to terminate the investment in the Zhuhai Xin Zhoubang electronic chemical project, and instead concentrate resources to build the Huizhou Zhoubang Phase IV electronic chemical project. The Huizhou Zhoubang Phase IV 200,000 ton electronic chemical project is scheduled to officially start in December 2022. It will be constructed by Xin Zhoubang's wholly-owned subsidiary, Huizhou Zhoubang Chemical Co., Ltd. It is understood that the project plans to commence general contracting construction in December 2023 and start production in the second quarter of 2025."