Yuanchen Technology (688659.SH) announced that in order to realize the strategic development layout of the company, the company intends to invest 1 billion yuan in the construction of Yuanchen Technology New Material Recycling Industrial Park in Hefei Xinzhan High-Tech Industrial Development Zone. The investment project will be financed by its own or self-financing funds, and the investment project will be used for the company's main business after completion, and the investment does not constitute a connected transaction.

The project site is located in the chemical concentration area of Hefei Xinzhan High-Tech Industrial Development Zone (intersection of Tongbao Road and Zhucheng West Road), the project covers an area of 127 mu, the specific land area is subject to actual situation. The investment project is expected to be completed within 5 years, and the production capacity will be formed gradually during the construction period. The construction of this investment project is a strategic layout for the company to realize the optimization of product structure, enhance the competitive ability of the enterprise in the market, give full play to the company's advantages in the development, production and processing of environmental protection materials, and realize the industrialized production of new environmental protection materials.

It is reported that the industrial park will focus on the development of industrial catalyst production, recycling of waste catalysts, extraction and comprehensive utilization of rare precious metals and other industries; develop technologically advanced circular economy industries based on advanced technology and advanced equipment, environmental protection processing as the main line, and high-tech recycling products as the terminal. The project will create a new materials recycling industrial park based in Hefei and radiating to six provinces and one city in East China, which is conducive to further expanding the scale of the company and improving its business performance.