Henggao Group: The proposed investment in the new project is expected to be 2.018 billion RMB.

Henggao Group announces that to further implement the company’s future development strategic plan, expand the capacity of its advantageous products, and enhance the company’s overall strength, the company plans to bid for the land use rights of the SD-I-05-01-02-08 site in Phase II of Shunde High-tech Zone, Foshan City, Guangdong Province, and invest in a new project. The starting bid for the land use rights is 252 million RMB, and the project investment is expected to be 2.018 billion RMB (including the land transfer fee). The funding sources will be self-owned funds, bank loans, or other financing methods. The company plans to establish a wholly-owned subsidiary responsible for the development, construction, and operation of this project.

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