Jiahe Foods Industry (605300.SH): Plans to invest 650 million yuan in the construction of a smart manufacturing project for the annual production of 460,000 tons of super plant-based milk.

Jiahe Foods Industry (605300.SH) announced that on March 24, 2026, the company signed a "Industrial Project Development Framework Agreement" with the Management Committee of Haimen Economic and Technological Development Zone after friendly negotiations. Both parties have reached a cooperation intention on the investment in the intelligent manufacturing project of super plant-based milk. The intended investment amount is approximately 1 billion RMB, with plans to produce liquid beverages such as milk tea, oat milk, and walnut milk. After thorough discussions with the local government, the company carefully assessed the feasibility of the project from aspects such as equipment selection, supporting facilities planning, and financial risks. The initially estimated investment amount of 1 billion RMB was reduced to 650 million RMB. The company plans to acquire the right to use the relevant state-owned construction land through bidding, and after obtaining the land use rights, will invest in the construction of a 460,000-ton annual production capacity super plant-based milk intelligent manufacturing project through its wholly-owned subsidiary, Nantong Jiazhiwei Food Co., Ltd. (referred to as "Nantong Jiazhiwei"). The company will use its own funds and bank loans to raise capital, with a total planned investment of 650 million RMB. The project will be located in the Economic and Technological Development Zone of Haimen, Nantong City, Jiangsu Province, with a construction period of 3 years. The investment and construction of this project will effectively help the company further enhance its existing production capacity, optimize the allocation of existing site assets, and improve resource utilization efficiency. It will also contribute to the continuous improvement of the overall industrial layout of the company, strengthen its core business advantages, and enhance its comprehensive competitiveness and sustainable development capabilities.