Gelonghui on December 11|Samsung New Materials (603578.SH) announced that Guohua Jintai (Shandong) New Materials Technology Co., Ltd. (hereinafter referred to as “Guohua Jintai”), a holding subsidiary holding 80% of the company's shares, plans to purchase land use rights covering a total area of no more than 272 acres in Lanling County, Linyi City, Shandong Province with its own or self-funded capital of no more than 54.4 million yuan. The project is to promote the company's medium- to long-term strategic development plan, further develop the production capacity of Guohua Jintai Photovoltaic Glass, a holding subsidiary of the company, and related businesses, expand the scale of production, and enhance the competitiveness of the industry. The proposed purchase of land use rights this time does not involve business related to real estate development.