Kangxin New Material: A wholly-owned subsidiary plans to implement a project to upgrade and renovate a new composite material production line for modern transportation equipment with an annual output of 120,000 cubic meters, with a total investment of RMB 50.4 million.

Kangxin New Materials announced that its wholly-owned subsidiary, Jiashan Xinhua Chang Wood Industry Co., Ltd., plans to implement a project to upgrade and renovate the production line of a new type of composite material for modern transportation equipment with an annual output of 120,000 cubic meters. The total investment of the project is 50.4 million yuan, and the construction period is 9 months. The main contents of the project include the construction of a new steel structure factory, a circulating cooling water pool, a sound insulation wall, a rain shed, the addition of 6 domestic 30-storey 2200-ton hot presses, and the renovation and upgrading of the intelligent assembly line. After the project is implemented, the monthly production capacity is expected to be approximately 10,000 cubic meters, and the annual production capacity is approximately 120,000 cubic meters, which will significantly increase the company's self-production capacity of container flooring products.