According to Jinfu Technology's announcement, Shanghai Jinjinfu, a wholly-owned subsidiary of the company, plans to invest 1,014 billion yuan to build a new materials production base project in the east, with the newly established subsidiary Jinshan Jinjinfu as the implementing entity. Recently, Jinshan Jinjinfu won the right to use 46666.93 square meters of industrial land in Jinshan District of Shanghai for 78.42 million yuan. The land use period is 50 years, and the concession price must be paid in a lump sum within 30 working days. At the same time, Jinshan Jinjinfu has signed a formal industrial cooperation agreement with the Shanghai Carbon Valley Green Bay Industrial Park Management Committee to adjust the project delivery period from 5.5 years to 3 years after commissioning, and the tax accounting cycle for production to every 5 years from the year of production and every 3 years after delivery.

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