Meijia’s 200,000-ton liquid epoxy project is changed, and the supply of raw materials for Swanson will not be affected

On the evening of July 27, Shangwei Advanced Materials issued the "Announcement on the Progress of Outward Investment":

1.

On May 25, 2021, Shangwei New Materials and Meijia New Materials signed the "Share Subscription Contract": Shangwei intends to invest 210 million yuan to purchase 50 million shares of Meijia New Materials privately issued

2.

Of the 210 million yuan raised by Meijia, 160 million yuan will be used for the construction of a new environmentally friendly liquid epoxy resin (phase I 50,000 tons) production line project with an annual output of 200,000 tons, and 50 million will be used to purchase raw materials.

The project of a new environmentally friendly liquid epoxy resin production line with an annual output of 200,000 tons can solve the problem of insufficient production capacity of MEGA

The project was put on record by the Fanchang District Development and Reform Commission in October 2020, with a total investment of 1 billion yuan

3.

Recently, Shangwei New Materials received the "Notice and Statement" from Meijia New Materials: In order to better meet the future safety and environmental protection requirements, and make the production line design reasonable and feasible, and practically fit the actual situation of Meijia New Materials In consideration of the production construction capacity, the implementation of various plans and the smooth handling of the approval procedures, Meijia New Materials decided to change the original plan to "expand the production line of a new environmentally friendly series of liquid epoxy resin with an annual output of 200,000 tons" to "expand an annual output of 150,000 tons" Serial epoxy resin production line project", the changed production project has been reported to the Development and Reform Commission of Fanchang District, Wuhu City for the record

4.

The original project of Meijia New Materials "Phase 1 Liquid Epoxy Res The completion, commissioning and supply of the “epoxy resin production line project” can provide Shanghai Sunway New Materials with a production capacity of no less than 30,000 tons per year.

Shangwei New Materials is mainly engaged in the research and development, production and sales of environmentally friendly high-performance corrosion-resistant materials, materials for wind power blades, and new composite materials.

2020 is a special year for domestic wind power installations, which is also a great benefit to Shangwei New Materials, with revenue increasing by more than 44% year-on-year