On August 14, Glehn Hui reported that due to the inability of Neway Industrial Materials (Dafeng), a subsidiary of the company, to meet the needs of modern factory management in terms of existing production processes, process arrangements, logistics warehousing, production equipment, and automation levels, it is urgently necessary to relocate and transform it to improve the production environment, optimize functional layout, improve automation levels, increase production efficiency, reduce operation costs, and enhance production capacity in accordance with the company's development plan. Therefore, Neway Industrial Materials (Dafeng) plans to participate in the bidding for the land use right of Nanyang Town Industrial Park in Dafeng District, Yancheng, invest in high-end precision casting manufacturing projects, and transfer the land use right and buildings of the existing factory area in Dafeng Economic Development Zone.

The project covers a total land area of about 36,202 square meters (54.3 mu), and the building area covers about 18,100 square meters. The total construction area is about 28,355 square meters. The new wax preparation center, automatic wax injection equipment, automatic hanging line, hanging material robot, firing furnace, intermediate frequency furnace, sand blasting machine, plasma cutting machine, heat treatment furnace, polishing sand blasting machine, spectrometer, impact testing machine, tensile testing machine, non-destructive testing equipment, and other production and testing equipment are included. The total investment is 220 million yuan, of which fixed assets investment is 160 million yuan and working capital is 60 million yuan. After completion, the annual output of carbon steel precision castings is 5,000 tons and that of stainless steel precision castings is 5,000 tons, with an annual output value of about 0.26 billion yuan.