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On September 11, Zhongjuxin disclosed that its affiliated company, Jingheng Xidao, is set to ink an Investment Agreement with the Administrative Committee of Quzhou Smart Manufacturing New City. Under this agreement, Jingheng Xidao will establish a wholly-owned subsidiary to spearhead an investment of approximately 1.1 billion yuan in a project aimed at producing 2,220 tons of high-purity quartz materials annually. Specifically, the initial phase of the investment will amount to roughly 333 million yuan, dedicated to constructing a facility capable of producing 720 tons per year. At present, the project has secured approval from the company's board of directors and is in the preparatory phase, awaiting both internal review by Jingheng Xidao and the completion of necessary government approval procedures.
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