Zhitong Finance App News, 605166.SH () announced. Earlier announcements revealed that the company plans to invest 50 million yuan to establish Hainan Jushun New Materials Co., Ltd.

According to reports, after the board of directors reviewed and passed the above bill, the company carried out in-depth and systematic research. Due to immature establishment conditions, the market environment did not meet expectations, and due to the company's layout adjustment needs, it is now planned to cancel the establishment of Hainan Jueshun New Materials Co., Ltd. Since the proposed wholly-owned subsidiary has not completed the relevant formalities, the cancellation of the establishment of the wholly-owned subsidiary has no impact on the company.