Hailide invests 527 million yuan to make a significant investment in the production of 6,000 tons of LCP material

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Recently, the listed company Hailide announced its intention to invest 527 million yuan to establish a wholly-owned subsidiary that will build an industrial production facility capable of producing 6,000 tons of LCP and 10,000 tons of fiber optic oils per year, thus marking the start of its transition toward high-end new materials. Heilide was established in 2001 and listed on the Shenzhen Stock Exchange in 2008. It is a **key high-tech enterprise** that has been specializing in the field of polymer materials for over 20 years. Focusing on three main areas – polyester industrial fibers, plastic materials, and tire cord fabrics – it is a global leader in differentiated polyester industrial fibers; it holds 33% and 65% of the global market share in seat belt fibers and airbag fibers respectively, with clients including top brands such as Michelin. This substantial investment represents its use of its own advantages to challenge the foreign-dominated market in high-end new materials, marking a transition into a crucial phase of technological transformation. The announcement states that the company’s board of directors approved this proposal on January 24; 200 million yuan will be invested to establish a wholly-owned subsidiary, Zhejiang Hailide Chemical Co., Ltd., which will be responsible for carrying out this project. The registered address is No. 87, Haishi Road, Huangwan Town, Haining, and the scope of business is in line with the development of new materials, subject to the official registration records. The project is located in the Chemical New Materials Park of Haining Economic Development Zone, where 105 mu of new land has been acquired to build offices, pilot plants, production facilities, and other related areas, along with the necessary pilot and production equipment. The construction period is three years. In terms of production capacity, LCP has an annual production capacity of 6,000 tons (in two phases, 3,000 tons per phase), while the corresponding fiber oil agents have an annual production capacity of 10,000 tons; pilot plants are also being built to advance industrialization. The total investment in the project amounts to 526.7187 million yuan, all of which is financed through internal sources; this does not constitute any related-party transaction or major asset restructuring, thereby demonstrating the company’s financial strength and confidence in the project.