Summary by Futu AI
On December 31, 2023, Farmer Shanquan Co., Ltd. signed an investment agreement with the People's Government of Jiande to establish the “Jiande Drinking Water and Beverage Integrated Industrial Base Project” in Jiande City, Zhejiang Province. The project, with a total investment of RMB50 billion, will be implemented in two phases, with a commitment to complete the entire investment within five years on all delivered project sites. The total area of the project is approximately 1000 hectares and will be granted national land use rights through a tender for the construction of a manufacturing base for the production of drinking water, beverages and related products. The Company will use its own funds to invest and in consultation with the Jiande City Government to determine the amount of the investment. The signing of the investment agreement will help Farmers Mountain Spring expand its production capacity, improve market competitiveness and return on investment, and consolidate its leading position in the industry.