Hbis Company Limited (000709.SZ) plans to invest 7.967 billion yuan to build a wide plate project in its subsidiary.

Hbis Company Limited (000709.SZ) announced that, in order to optimize the company's product structure and create a high-quality, efficient, green, and intelligent domestic leading wide and thick plate production base with specialty steel as the feature, the company's controlling subsidiary, Hegang Leting Iron and Steel Co., Ltd. (hereinafter referred to as "Leting Company"), plans to invest in building a new 5600mm hot-rolled wide and thick plate production line with an investment of 7.967 billion yuan. Once the project is completed, it will have an annual production capacity of 2.42 million tons of qualified products. The wide and thick plate project will focus on high-end products such as shipbuilding and marine engineering plates, wind power tower plates, and low-alloy steel structural plates, supplemented by other products such as carbon steel structural plates, engineering machinery plates, and pipeline steel. This will help further optimize the company's product structure, promote the transformation and upgrading to high value-added products, and significantly enhance the company's product market competitiveness.