DeGuan New Materials: Subsidiary DeGuan Packaging invests about 420 million yuan to build the electronic and new energy film material upgrade and expansion project.

Degen New Materials announced that its wholly-owned subsidiary, Degen Packaging, is investing in the construction of an electronic and new energy film material upgrade and expansion project in ZTE Technology Park. The total investment is approximately 420 million yuan, with an expected construction period of 27 months and an estimated annual production capacity of 26,400 tons. The project funds are from internal funds, and the company will reasonably arrange the use of funds based on the project progress and fund utilization plan, which will not have a significant impact on the company's existing business development and financial situation.