Shida Shinghwa Advanced Material Group (603026.SH) subsidiary plans to invest 722 million yuan to construct a 200,000 tons/year electrolyte project.

Shida Shinghwa Advanced Material Group (603026.SH) announced that its wholly-owned subsidiary, Dongying Shenghua Lida Chemical Technology Co., Ltd., plans to invest in the construction of a 200,000 tons/year electrolyte project. The total investment for the project is expected to be approximately 722 million yuan, and the construction site is located at No. 198 Tongxing Road, Kenli District, Dongying City, Shandong Province, with a construction period of 12 months. In line with the company's strategic development needs and to meet the demands of the new energy market, the wholly-owned subsidiary is investing in the construction of the 200,000 tons/year electrolyte project, fully leveraging the company's existing utilities and integrated raw material support advantages. This project has strong risk resistance capabilities and market competitiveness, which is beneficial for the company's profit growth.