Hubei Guochuang Hi-Tech Material (002377.SZ) subsidiary plans to invest 152 million yuan in the construction of a new material R&D base project.

Hubei Guochuang Hi-Tech Material (002377.SZ) has announced that, based on the overall development strategy of the company and business development needs, its wholly-owned subsidiary, Hubei Guochuang Hi-Tech Material Material Technology Co., Ltd. (referred to as "Guochuang Technology"), plans to invest in the construction of the "Hubei Guochuang Hi-Tech Material New Material Research and Development Base Construction Project" in Ezhou City, Hubei Province. The project covers an area of 45 acres, with a total investment of approximately 152 million yuan (the final total investment is subject to actual investment), and will be implemented in two phases based on actual progress. In the near future, Guochuang Technology plans to carry out the "Hubei Guochuang Hi-Tech Material New Material Research and Development Base Construction Project Phase I" with an investment of 39.6 million yuan. After the completion of Phase I, the decision on Phase II will be made based on the actual operation of the company. Based on strategic planning and existing business development needs, the company is focusing on the research and development of high-performance, green, and low-carbon transportation construction materials. The project is in line with the industry's transition towards "high-performance, low energy consumption, sustainable" development in transportation construction, meeting the diverse and high-quality demands of customers for road materials in different scenarios. The advantageous geographical location of the project, with convenient transportation networks, provides strong support for raw material procurement, research and development results, and efficient project promotion. This project has a positive impact on optimizing the company's industrial structure, aligns with the company's long-term development strategy, enhances the company's core competitiveness, and injects motivation for the company to practice green development and achieve sustainable development goals, aiding the company in achieving sustainable development.