Layout of modified plastics, environmentally friendly degradable materials! Jushi Chemical established a subsidiary

On July 18, Guangdong Jushi Chemical Co., Ltd. (hereinafter referred to as "Jushi Chemical") issued an announcement that it plans to invest no more than 160 million yuan in the construction of a production base for modified plastic particles and wire and cable products in the concentrated area of Anren County, Hunan. At the same time, Jushi Chemical established a holding subsidiary Hunan Jushi Technology Co., Ltd., with a registered capital of 50 million yuan, and Jushi Chemical holds 65% of the shares, and the newly established company is the main body of project implementation.

On July 15, Hunan Jushi Technology Co., Ltd. completed the industrial and commercial registration and obtained the "Business License" issued by the Anren County Market Supervision Administration. The business scope includes R&D, production, and sales: rubber and plastic additives, modified high Molecular materials, wires and cables, sheets, plates, profiles, environmentally degradable materials and products (excluding hazardous chemicals). Import and export of goods and technologies (except for goods and technologies that the state restricts the company to operate or prohibits the import and export of goods and technologies). (Projects that are subject to approval in accordance with the law can only carry out business activities after being approved by relevant departments)

After the establishment, Jushi Chemical will directly hold 65% of the equity of Hunan Jushi Technology Co., Ltd., and Hunan Jushi Technology Co., Ltd. will be included in the scope of Jushi Chemical’s consolidated statements.