Wanma Corporation (002276.SZ) plans to invest 1.245 billion yuan to build an industrial project with an annual production capacity of 350,000 tons of environmentally friendly high molecular materials.

Zhtng Cijng APP News, Wanma shares (002276.SZ) announced that its subsidiary Zhejiang Wanma Polymer Material Group Co., Ltd. (hereinafter referred to as "Wanma Polymer") plans to build an "annual output of 350,000 tons of environmentally friendly polymer material industrial project" in Dongjiakou Economic Zone, Qingdao City, Shandong Province to achieve sustainable development strategy and enhance core competitiveness. The total investment of the project is expected to be approximately 1.245 billion yuan (subject to actual investment situation), and the project plans to establish a new company, purchase new land, build new plants, and add some production lines. The project funds will come from Wanma Polymer's own funds or self-raised funds.