Seiko Technology: Trial production of 320 million yuan production line project with affiliates resulted in qualified products.

CITIC Jinshi Technology announced that in 2023, the company approved the signing of a contract with Jianxin Jiaren New Materials for the first phase of the 150,000 tons per year green recycled new materials project, with a main process equipment for 50,000 tons, estimated at a total price of 320 million yuan. As of the announcement date, the company has received a total of 255.97 million yuan in payments. Recently, the production line has started trial production and successfully produced PET products that meet the standards, achieving a closed loop from waste textiles to recycled new materials. However, the production line is still in the early stage of trial production, and it will take more time for full production capacity and final acceptance. The final price of the contract will be determined based on the final accounts.