Announcement on implementing the construction of 18kt/year high-performance tire cord fabric project and expanding production base in Vietnam by Hailide

Announcement on implementing the construction of 18kt/year high-performance tire cord fabric project and expanding production base in Vietnam by Zhejiang Hailide New Materials Co., Ltd.

Project construction status:

1. Project name: Zhejiang Hailide New Materials Co., Ltd.'s18kt/year high-performance tire cord fabric Vietnam (Phase I) Project

2. Construction Location: Fudong Industrial Park, Sinh Ninh Province, Vietnam

3. Construction content: This project is an expansion of the company's production base in Vietnam. The plan includes the construction of a new twisting workshop, weaving workshop, dipping workshop, warehouse, and other structures with a total construction area of 56,380 square meters. The project also involves the purchase of production equipment such as twisting machines, weaving machines, and dipping machines, as well as related supporting equipment, warehouses, adhesive preparation and water treatment facilities, power distribution, refrigeration, heating, and other public engineering facilities. The construction scale aims to achieve an annual production capacity of 18,000 tons of high-performance tire cord fabric in Vietnam (Phase I).

 4. Construction scale: annual production capacity of 18,000tons of high-performance tire cord fabric

 5. Investment estimation: The total investment for thisproject is approximately 52 million US dollars

6. Fund source: This project is financed by the company anddoes not constitute related party transactions, nor does it constitute amajor asset restructuring as stipulated in the Measures for theAdministration of Major Asset Restructurings of Listed Companies.