Xiangfenghua (300890.SZ) plans to invest in establishing Xiangzhan New Materials to meet future business development needs.

China Fortune Financial APP news, Xiangfenghua (300890.SZ) announced that, according to the company's strategic planning and operational development needs, in order to meet the future business development needs, the company plans to invest 6 million yuan with its own funds to establish Sichuan Xiangzhan New Materials Technology Co., Ltd. ("Xiangzhan New Materials"), holding a 60% stake. Xiangzhan New Materials will become a subsidiary of the company and will be included in the company's consolidated financial statements.