According to Zhitong Finance App News, Yuanda Holdings (000626.SZ) announced that Yuanda Petrochemical Co., Ltd. (Yuanda Petrochemical for short), the holding subsidiary of the company, invested 100 million yuan to establish a wholly-owned subsidiary Zhejiang Xinheng Products Co., Ltd. (abbreviation: Xinheng Products) in accordance with business and development needs, with a registered capital of 100 million yuan. The registered place is Ningbo Daxie Development Zone or High-tech Zone.

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