Recently, Meichang shares released an announcement that the company intends to invest 100 million yuan to set up Shaanxi Meichang Tungsten Material Technology Co., Ltd. with the aim of strengthening the company’s research and development capability and quality management of tungsten wire raw materials, and promoting the quality and technological advancement of the industrial chain without changing the existing supply chain. When Meichang Tungsten Material Company goes into operation, it will enable the company to have an annual production capacity of 12 million kilometers of tungsten wire base material. It will take some time for Meichang Tungsten Material Company to be put into production, which will not materially affect the operating conditions of the Company in the short term.
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