[ferro-alloys.com]

  Yongjin has disclosed the construction of existing projects in its 2020 annual report, as follows:

  1. Yongjin, Jiangsu

  The first production line of the company's IPO raised investment project "annual processing 75000 tons of ultra-thin precision stainless steel plate and strip project" has been put into trial production in December 2020, and the second production line of the project has entered the installation stage. Except for some imported equipment, the rest of the raised investment project is expected to be basically put into production in June 2021. After the project is put into operation, Jiangsu Yongjin's production capacity benefit of wide precision cold rolling products will be gradually released, and the market share of precision products will be effectively improved.

  2. Yongjin, Zhejiang

  The "125000 ton precision cold rolled stainless steel production line project" was officially started in June 2020. By the end of the year, the main plant project has been completed, and some equipment has entered the installation stage. It is expected that the installation will be completed and put into trial production by the end of June 2021. The relocation project of Zhejiang headquarters has received strong support from the government, with 290 million yuan of compensation for relocation and construction. At present, 70 million yuan has been received.

  3. Guangdong Yongjin, a subsidiary of Guangdong Yongjin Holding Co., Ltd., has invested in and built the "annual processing of 680000 tons of wide precision stainless steel plate and strip project". The first phase of the project has been officially put into operation on April 1, 2020. After three months of running in period, the capacity utilization rate has reached 128%, and the monthly output has reached more than 30000 tons; the second phase 320000 tons project has been started, and the land acquisition work has been completed.

  4. Overseas projects

  (1) Yongjin, Vietnam

  Vietnam subsidiary's "annual production capacity of 250000 tons of precision stainless steel plate and strip project" has officially started in late October 2020, and the production line commissioning is expected to be completed by the end of 2021.

  (2) Yongjin, Thailand

  The "260000 T / a precision stainless steel plate and strip project" has been registered by the domestic Department of Commerce and the provincial development and Reform Commission. At present, it is going through relevant procedures such as foreign investment license, and is expected to start construction in the fourth quarter of 2021.

  5. Other projects

  (1) Composite projects

  Praseodymium Sai Seiko's "annual processing of 55000 tons of composite materials project" has completed the land acquisition and preliminary project filing procedures, and has started construction

  (2) Capital market M & A

  In addition to relying on endogenous accumulation, the company is also based on the advantages of the capital market, actively looking for high-quality targets within the industry, and realizing the horizontal integration of the upstream and downstream of the industrial chain or within the industry.

  During the year, we successfully acquired Fujian qingtuo Shangke Stainless Steel Co., Ltd. and completed the industrial and commercial change registration in early December.

  In the future, it will realize the rapid improvement of qingtuo Shangke's production capacity and benefit by means of technological transformation and business model replication.

  After the successful acquisition of qingtuo Shangke, the cold rolling output of the company will rapidly increase by 300000 tons in 2021.

• [Editor:Catherine Ren]