SRE New Materials: Investing 919 million yuan to build the "Electric Heating Functional Materials Research and Manufacturing Base Construction Project"

Sword New Materials announced that the 12th meeting of the fourth board of directors of the company approved the resolution on investing in the construction of the "Electric Heating Functional Materials R&D and Manufacturing Base Construction Project". The total investment of the project is 919 million yuan, including 479 million yuan for the "40 million pieces of module chip base and shell material project" and 440 million yuan for the "1,290 tons of high-voltage switch contact and zero component project". The project construction period is 5 years, and it is expected to be ready for use by December 2030. The project funds will be sourced from the company's self-raised funds, and will still need to go through administrative approval procedures such as land use, record filing, environmental impact assessment, and energy assessment.