Wolong Electric Group (002130.SZ) subsidiary plans to invest no more than RMB 800 million to build a production base project in the Zhejiang Dushangang Economic Development Zone.

Zhitong Finance APP News, Woer Heat-Shrinkable Material (002130.SZ) announced that in order to further improve the company's industrial layout, enhance production and manufacturing and R&D capabilities, and better seize market development opportunities, the company's wholly-owned subsidiary Shanghai Changyuan Electronic Material Co., Ltd. (referred to as "Shanghai Electronics") plans to use no more than RMB 800 million to invest in the construction of a production base project in the Zhejiang Dushangang Economic Development Zone, with funding sources being the subsidiary's self-raised funds and the proceeds from the company's H-share global offering. On the same day, Shanghai Electronics signed an "Investment Agreement" with the Management Committee of the Zhejiang Dushangang Economic Development Zone.