Wanfeng Corporation: Intends to invest 1 billion yuan in modified special engineering plastics project.

announced that the company plans to build a modified special engineering plastics manufacturing project in the Keqiao District of Shaoxing City, Zhejiang Province. The project will be implemented in two phases, with an investment of 1.5 billion yuan in the first phase and 8.5 billion yuan in the second phase, totaling 10 billion yuan. To accelerate progress, some of the projects in the second phase will be carried out simultaneously or in parallel with the first phase, with an initial investment of about 3.5 billion yuan. This investment has been approved by the board of directors, but still requires approval from the shareholders' meeting. The project faces uncertainties in various approvals, as well as risks related to implementation progress, returns, fund-raising, and entering a new field.