On August 2, Xiamen Tungsten Industry, the leading tungsten and molybdenum industry, announced that in view of the company's competitive advantages in technology, quality and scale of photovoltaic fine tungsten wire products, in order to give priority to ensuring the production of Xiamen Honglu photovoltaic tungsten wire. At the meeting, it was agreed to change the purpose of the second and third plants of Tianxiang Phase II to the construction of 60 billion meters photovoltaic tungsten wire production line, cancel the original planned investment in high-performance tungsten and molybdenum products production line, and reduce the investment amount by 128.645 million yuan.
This proposal was passed by a unanimous vote of 9:0 at the 36th meeting of the 8th Board of Directors of the Company on August 1.