Shida Shinghwa Advanced Material Group (603026.SH) plans to invest 25 million yuan to implement a 53,000 tons/year calcium chloride project.

Shida Shinghwa Advanced Material Group (603026.SH) announced that the company plans to establish a subsidiary, Dongying Shenghuali Science and Technology Co., Ltd., to invest in and construct a 53,000 ton/year calcium chloride project. The project will be located at 198 Tongxing Road, Kenli District, Dongying City, Shandong Province, covering an area of 5,300 square meters. The construction period of the project is 8 months, with a total investment of 25 million yuan sourced from the company's own capital. The announcement stated that this initiative will help fully leverage the company's resource advantages in the field of new energy materials, increase product added value, add profit growth points, and enhance the company's influence in the field of new energy.