Futubull Financial News APP reported that Jiangsu Ankura Smart Transmission Engineering Technology (300617.SZ) announced its plan to establish a wholly-owned subsidiary, Jiangsu Ankura New Materials Co., Ltd. (referred to as 'Ankura New Materials')(tentative name), in Jiangsu Huai'an Industrial Park. Ankura New Materials will invest in constructing a project to produce 2500 tons of high-end fluorine materials annually (500 tons of perfluoro isobutylene, 1000 tons of hexafluoropropylene dimer, and 1000 tons of perfluoro isobutyl methyl ether), with an investment amount not exceeding 0.2 billion yuan.

Upon completion of the project, the company will establish an eco-friendly electrical utilities product system, enhance the company's ecological layout in the electrical utilities industry, and improve the company's core competitiveness. After the project is completed, it will help reduce the future production and manufacturing costs of eco-friendly electrical utilities equipment for the company, enhance product comprehensive performance, and lead the company to take the lead in capturing the market for new eco-friendly electrical utilities equipment under the 'dual carbon' requirements. If the high-end fluorine materials new business is successfully developed, it will also increase the company's sales revenue, boost profits, and have a positive impact on the company's future development.