Zhejiang Huilong New Materials (301057.SZ) plans to invest 3.25 million yuan to participate in the establishment of Hangzhou Zhalil Pet Technology Company.

Zhejiang Huilong New Materials (301057.SZ) announcement, the company plans to sign an "Investment Agreement" with Hangzhou Pet Supply Chain Management Co., Ltd. (referred to as "Pet Supply"), Wang Jianxing, Wu Hongqiang, He Jiajia, Tang Guobin, and Xi Wenwen to jointly invest in the establishment of Hangzhou Zhali Pet Technology Co., Ltd. (tentative name). The proposed joint venture company will leverage Zhejiang Huilong New Materials' technical advantages in the field of green functional fiber materials, integrate resources from multiple parties, combine fiber materials with functions such as antibacterial, deodorant, water repellent, skin-friendly, and cooling sensation with pet health products, create a well-known brand of functional fiber materials for pets, and serve the pet health industry. The registered capital of the joint venture company is 5 million yuan, with Zhejiang Huilong New Materials subscribing for 3.25 million yuan, holding a 65% stake; Pet Supply subscribing for 450,000 yuan, holding a 9% stake; Wang Jianxing subscribing for 475,000 yuan, holding a 9.5% stake; Wu Hongqiang intending to subscribe for 225,000 yuan, holding a 4.5% stake; He Jiajia subscribing for 200,000 yuan, holding a 4% stake; Tang Guobin subscribing for 200,000 yuan, holding a 4% stake; and Xi Wenwen subscribing for 200,000 yuan, holding a 4% stake.