Tiantong Co., Ltd. has officially declared that its fully-owned subsidiary, Tiantong (Lu'an) New Materials Co., Ltd., is poised to invest a substantial sum of 434 million yuan in the establishment of an intelligent manufacturing project dedicated to producing high-end soft magnetic new materials, boasting an impressive annual output capacity of 14,600 tons. The financial resources for this ambitious endeavor will be sourced from a combination of the company's internal funds and bank loans. This project will encompass a phased construction approach, focusing on the development of intelligent production lines for both metal magnetic powder cores and manganese-zinc ferrites. The anticipated construction timeline for this project is approximately 36 months. Notably, the projected after-tax return on investment stands at an attractive 18.36%. This strategic initiative has already received the green light from the board of directors, eliminating the need for further deliberation at the shareholders' meeting.