Shida Shinghwa Advanced Material Group (603026.SH) subsidiary plans to invest in the construction of a 12,000 tons per year additive project.

Shida Shinghwa Advanced Material Group (603026.SH) has announced that its wholly-owned subsidiary, Shenghua New Energy Technology (Dongying) Co., Ltd. (referred to as "Dongying Company"), plans to invest in the construction of a 12,000-ton per year additive project. The project includes the establishment of a new 12,000-ton per year lithium fluoride production facility, along with a supporting equipment room and a three-dimensional finished product warehouse. The total investment for project approval is estimated at 286 million yuan, with the construction investment amounting to 282 million yuan. The construction site is located at No. 198 Tongxing Road, Kenli District, Dongying City, Shandong Province, and the project construction period is set for 12 months. In line with the companys strategic development needs and in response to the demand in the new energy market, the construction of the 12,000-ton per year additive project by the wholly-owned subsidiary can leverage the integrated advantages of raw material supply, demonstrating strong risk resistance and market competitiveness, which is beneficial for the companys profit growth.