Shenzhen Sunxing Subsidiary to Invest 400M in Aluminum-based New Materials Project in Huzhou
Shenzhen Sunxing announced that its wholly-owned subsidiary, Zhejiang Sunxing Lingchuan New Materials Technology Co., Ltd., plans to sign the ãProject Investment Agreementã with the Management Committee of the Yangtze River Delta (Huzhou) Industrial Cooperation Zone to invest in the construction of an aluminum-based high-end new materials project. The project is expected to have a capacity of 10kt, cover an area of approximately 150 mu, and have a construction period of 18 months, with the first phase investment of 400 million yuan to build a demonstration production line with an annual capacity of 20kt for the aluminum-based high-end new materials project. This investment has been approved by the board of directors and does not need to be submitted to the shareholders' meeting for approval.