Yuanchen Technology (688659.SH) intends to invest 1 billion yuan to establish a new material recycling industrial park

Aug 13, 2021
Yuanchen Technology (688659.SH) issued an announcement, in order to realize the company's strategic development layout, the company plans to invest 1 billion yuan in Hefei Xinzhan High-tech Industrial Development Zone to build Yuanchen Technology New Material Recycling Industrial Park. The source of funds for this investment project is self-owned or self-raised funds. After the investment project is completed, it will be used for the company's main business. This investment does not constitute a connected transaction.

The site of the project is the Chemical Concentration Zone of Hefei New Station High-tech Industrial Development Zone (at the intersection of Tongbao Road and Zhucheng West Road). The project covers an area of 127 acres. The specific land area is subject to actual conditions. The investment project is expected to be completed within 5 years, and production capacity will be gradually formed during the construction period. The construction of this investment project is the company's strategic layout in order to optimize the product structure, enhance the company's market competitiveness, give full play to the company's advantages in the development, production and processing of environmentally friendly materials, and realize the industrialized production of environmentally friendly new materials.

It is reported that the industrial park will focus on the development of industrial catalyst production, recycling of waste catalysts, extraction and comprehensive utilization of rare and precious metals, etc.; relying on advanced technology and advanced equipment, environmental protection treatment as the main line, and high-tech Recycling products are the terminal, and the development of technologically advanced circular economy industries. The project will build a new material recycling industrial park based in Hefei and radiating six provinces and one city in East China, which is conducive to further expanding the company's scale and improving the company's operating performance.
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