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On October 20, Hongchang Electronic made an announcement stating that its board of directors had given the green light to several investment proposals. The company is set to enter into an agreement with the Management Committee of the Zhuhai Economic and Technological Development Zone, aiming to invest around 270 million yuan in the establishment of an advanced packaging film materials project. Concurrently, its wholly-owned subsidiary, Zhuhai Hongren, is slated to invest a minimum of 800 million yuan in the development of a high-end copper clad laminate and prepreg project. Moreover, another wholly-owned subsidiary has plans to invest at least 190 million yuan in the second-phase expansion of an automation and intelligent manufacturing project.
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