Gelonghui, May 8, 丨 Erkang Pharmaceutical (300267.SZ) announced that on May 8, 2020, the 7th meeting of the fourth board of directors of the company deliberated and passed the “Proposal on Using Own Funds to Invest in the Construction of a Project with an Annual Output of 10,000 Tons of Phenylenediamine”.

In recent years, domestic supply-side reforms have entered the deep-water zone, environmental protection policies have been tightened, and the structure of the raw materials industry has been continuously adjusted. The company closely follows the call of the “Belt and Road” policy and has carried out a strategic layout in the early stages, moving the raw materials industry chain forward and outward, extending the layout to the upstream of the API industry - pharmaceutical intermediates, and further reducing the cost of APIs. In this context, the wholly-owned subsidiary Erkang Biostarch Co., Ltd. (“Erkang Biostarch”) plans to use its own capital of RMB 1804.025 million to invest in the construction of a project with an annual output of 10,000 tons of metaphthalene diamine in Cambodia.