On July 11, Henan Xinda New Materials Co., Ltd. held the tenth meeting of the second board of directors. The meeting was approved by the chairman of the board of directors Song Hechen with 9 votes in favor, 0 votes against, and 0 abstentions. Regarding the proposal to build a new 3.6 million-kilometer-cut resin diamond line project, the company agreed to build a new 3.6 million-kilometer-cut resin diamond line project. The independent directors of the company issued independent opinions on this proposal, and the sponsor institution issued verification opinions on this proposal. Both of them issued their consent opinions on this proposal. For details, please refer to the relevant announcements announced by the company on the GEM Information Disclosure Website designated by the China Securities Regulatory Commission on the same day. The project land 5000m 2, building area of 5000m 2, annual production capacity of 360 million meters of diamond cutting resin product line of large-scale production line  including pre-treatment plant, reprocessing plant, clean finished workshop, related testing, power, and auxiliary plant Office facilities, etc. According to preliminary estimates, the total investment of the project is 460 million yuan, of which the investment of super-raised funds is 91.48 million yuan, and the self-raised funds of enterprises are 368.25 million yuan. The total investment of the first phase of the project is 300 million yuan, including 20 million yuan for construction projects and 220 million yuan for equipment purchase and installation.
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