Zhitong Finance App News,Science, Culture, and Engineering (00746)An announcement was issued. On October 25, 2021, Liwen International, a wholly-owned subsidiary of the company, signed a project agreement with the Ruichang Municipal Government to develop chemical business in Ruichang City, Jiangxi Province.

According to the project agreement, Liwen International plans to invest in projects to produce high-end fluoropolymers and new materials for lithium batteries. The proposed production scale of the project is to produce 20,000 tons of polyvinylidene fluoride (PVDF) and 10,000 tons of lithium hexafluorophosphate (LiPF6) per year, and support the construction of a new construction with an annual output of 50,000 tons of hydrogen fluoride.

According to the project agreement, the Ruichang Municipal Government agreed to grant Liwen International an industrial site with an area of about 500 acres (about 33,000 square meters) in Ruichang Wharf Industrial City. The period of use is 50 years, and the total cost is RMB 50 million (about 60 million Hong Kong dollars) (subject to the final tender results). The Ruichang Municipal Government has also agreed to assist Liwen International to obtain various licenses and approvals as soon as possible, and to support Liwen International in handling all formalities relating to this development project.