Hongchang Electronics: Zhuhai Hongchang Phase III, an electronic-grade functional epoxy resin project with an annual output of 80,000 tons obtained land use rights
According to Weibo news, on September 20, Hongchang Electronics issued an announcement on the progress of obtaining land use rights and foreign investment for the "Zhuhai Hongchang Phase III Electronic Grade Functional Epoxy Resin Project with an annual output of 80,000 tons".
On May 25, 2022, Hongchang Electronics held the 23rd meeting of the fifth board of directors, and reviewed and approved the "Proposal on the Company's Signing of the <Project Investment Agreement>". In order to seek long-term development, the company plans to sign the "Project Investment Agreement" with the Jinwan District People's Government of Zhuhai City to invest in the new project of "Zhuhai Hongchang Phase III Project with an Annual Output of 80,000 tons of Electronic Grade Functional Epoxy Resin Project".
Recently, Zhuhai Hongchang, a wholly-owned subsidiary of Hongchang Electronics, signed the "Contract for the Assignment of State-owned Construction Land Use Rights" with the Zhuhai Municipal Bureau of Natural Resources. The parcel of land covers an area of 48,252.48 square meters and is located on the southwest side of Pingwan 5th Road, Petrochemical Zone, Nanshui Town, Jinwan District, Zhuhai City.
Hongchang Electronics said that the land acquired this time is the construction land for the new project of "Zhuhai Hongchang Phase III Electronic Grade Functional Epoxy Resin Project", and the source of funds for the purchase of land use rights is the company's own or self-raised funds. This land acquisition will not have a significant adverse impact on the company's financial status and operating results, and there is no situation that damages the interests of the company and all shareholders, especially the interests of small and medium shareholders.
If the project is successfully implemented in the future, it can further expand the production scale of the company's epoxy resin, enhance the comprehensive competitiveness of the company's epoxy resin products, conform to the company's main business development strategy, and have a positive impact on the company's follow-up development.
It is understood that Hongchang Electronic Epoxy Resin Industry is one of the first foreign-funded enterprises to enter mainland China. Since its establishment, the company has positioned itself as "substituting imported products and serving customers nearby", based on China's electronics manufacturing base (Pearl River Delta), and took the lead in introducing electronic-grade epoxy resin to fill the gap in the domestic market and successfully reduce the domestic market's demand for imports. product dependence. After more than 20 years of development and precipitation, the company has cultivated a senior management team in the epoxy resin industry, built a fully automated processing and manufacturing capability, and formed a relatively complete environmental protection and safety system through continuous investment.
