Xiamen Tungsten Co., Ltd.: Holding subsidiary plans to invest in the construction of Motor Industry Park A and B District projects.

Xiamen Tungsten Industry announced that the 22nd meeting of the 10th Board of Directors of the company approved a proposal to allow its subsidiary, Xiamen Tungsten Motor Industry Co., Ltd., to invest in the purchase of land for the second phase of the motor industry park and the construction of the A and B area projects. The project is expected to be completed by September 2029 and will be linked with the first phase of the project, leaving space for the development of the rare earth permanent magnet motor sector and attracting upstream and downstream enterprises to form an industrial cluster. However, uncertainties such as industry policies and market conditions may affect the progress, returns, and expected earnings of the project, reminding investors to be aware of the risks.