Zhitong Financial App News, Lixing Co., Ltd. (300421.SZ) announced that the company signed the “Project Investment Cooperation Framework Agreement” with the Fangcheng County People’s Government on June 28, 2021. The company plans to build a new Fangcheng rolling body manufacturing and R&D project in the industrial cluster area of Fangcheng County. The specific investment projects involved in this agreement need to be determined after deliberation by the company’s board of directors and shareholders’ general meeting (if necessary).
According to the announcement, the project uses about 20,000 square meters of production and operation buildings (including standardized workshops and scientific research office buildings) (No. 8, Fangcheng County Industrial Agglomeration Area). The total investment in the first phase is about 150 million yuan. Construction is scheduled to begin on September 1, 2021, and it will be completed and put into operation by December 31, 2021.