China Jushi Co., Ltd (600176.SH) terminates the Tongxiang production base gas station and supporting pipeline project.

China Jushi Co., Ltd (600176.SH) announced that at the 21st meeting of the sixth board of directors and the 2021 annual shareholders' meeting, the resolution on the Tongxiang production base gas station and supporting pipeline project of Jushi Group Limited was approved. The company agreed for its wholly-owned subsidiary Jushi Group Limited to implement the construction of the gas station and supporting pipeline project, which includes both liquefied natural gas (LNG) and pipeline natural gas dual sources. However, due to adjustments in the company's overall investment plan, it is planned to terminate the construction of this project. In 2022, considering factors such as resource guarantee capacity, after comparing investment locations in multiple areas, the company has decided to invest in and build a zero-carbon intelligent manufacturing base in Lianshui County, Huaian City, Jiangsu Province. At the same time, based on the latest investment plan, the company will focus more of its future production capacity layout in other regions.