The Nanchang branch of Jinzhou Company, a controlling subsidiary of China Tungsten and Hightech Materials, plans to implement phase two of the precision micro-tool manufacturing base project, with an estimated total investment of 147 million yuan, a construction period of one year, and full production in the second year. The project will add annual capacity of 18 million units of product 131, 28 million medium-sized drill bits, and 430 million semi-finished front-process products. Funding will come from 112 million yuan of self-owned funds and 35 million yuan of bank borrowings. After completion, the project will increase the production capacity needed for Jinzhou Company's micro-drill production and consolidate its market position, and will not have a material impact on the company's financial condition and operating results in the short term.
China Tungsten and Hightech Materials Co LtdPlans 147 million yuan investment in phase two micro-tool manufacturing base, expanding capacity and consolidating market position.
