On May 15, Conch Material Technology announced that Maoming Conch (a wholly-owned subsidiary of the Company) had won the land use right of the land located in Maoming City, China, sold by Maoming Natural Resources Bureau through public listing for RMB45.2 million through public listing.

The land parcel is located in the western area of Maoming Hi-tech Industrial Development Zone and covers three land parcels with an area of 78,667 square meters. The land use is industrial, and the transfer period is 50 years.
This land acquisition will be used for the planning and construction of Maoming Conch Production Plant, which will help the company to improve the national industrial layout, expand the scale of production capacity, close to the downstream market of South China, effectively shorten the transportation radius, reduce logistics and operating costs, enhance the regional market response capacity and market share, and promote the development of Maoming Conch. It is in line with the company's long-term strategic development plan and the overall interests of all shareholders to further enhance the company's overall operational strength and sustainable development ability.
It is understood that Conch Material Science and Technology Group is mainly engaged in the production and sales of cement admixtures, concrete admixtures and related upstream raw materials, and is an important supplier in the field of fine chemical materials in China. Maoming Conch focuses on the production and sales of polyether monomer series, alcohol amine series products and new fine chemical materials derived from epoxy.
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