Guangxin Materials plans to invest 1 billion yuan to build a photosensitive and other material projects in Longnan, Jiangxi

On March 22, Guangxin Materials issued an announcement stating that due to unclear land use conditions in Zhuhai, Guangdong, the company decided to promptly adjust the investment land and change the new company's investment address to Longnan City, Jiangxi Province, adjacent to Guangdong.

It is understood that Guangxin Materials signed a "Project Contract" with Longnan Development Zone in Longnan City on March 22. The company plans to purchase about 140 acres of land in Longnan Development Zone and plans to invest in an annual production of 20,000 tons of photosensitive materials, 20,000 tons of coatings and 10,000 tons of supporting materials in the next two years. The total investment of the project is expected to be about 1 billion yuan in the future.

In December last year, Guangxin Materials planned to invest RMB 50 million to establish Guangdong Guangxin Photosensitive New Materials Co., Ltd. (hereinafter referred to as "Guangdong Guangxin") in Zhuhai City, Guangdong Province, to carry out the research and development, manufacturing, sales and technical services of electronic special materials, inks and similar products, coatings, synthetic resins and other synthetic materials. However, the investment land has not been able to enter the land bidding and auction procedures, and Guangxin Materials finally terminated and terminated the "Cooperation Framework Agreement", "Investment Agreement" and "Supplementary Agreement" signed with the Zhuhai Economic and Technological Development Zone Management Committee and others.

It is worth noting that after adjusting the investment land, the name of the investment target company was also changed from Guangdong Guangxin Photosensitive New Materials Co., Ltd. to Jiangxi Guangxin Photosensitive New Materials Co., Ltd., and the registered capital was reduced from 50 million yuan to 10 million yuan. At the same time, the business scope was changed to the manufacture and sales of inks and similar products, special electronic materials; manufacture and sales of coatings; manufacture and sales of synthetic materials; and road general cargo transportation.

Guangxin Materials stated that since many PCB manufacturers in the Pearl River Delta have gradually built production capacity in Jiangxi Province, especially in Longnan, Longnan has formed an upstream and downstream industrial chain from the production of electronic components such as copper clad laminates, circuit boards (PCBs), liquid crystal display modules (LCMs) to smart terminal products such as smart phones, smart audio, and smart wearables. In order to actively deploy a base in South China and better serve customers in the South China region, the company decided to invest and establish a new company in Longnan City, Jiangxi Province.