longda(SH:688231) Shang Hai Zheng Quan Bao·2025-05-25 18:02Core Viewpoint - The company, Jiangsu Longda Superalloy Co., Ltd., is increasing its investment in its wholly-owned subsidiary in Singapore, Singda Superalloy Pte. Ltd., by $40 million to enhance its overseas manufacturing capacity and product offerings [1][4]. Investment Overview - The total investment in the Singapore subsidiary will rise from $20 million to $60 million following this additional investment [4]. - The additional $40 million will be allocated for expanding factory infrastructure, upgrading key production and testing equipment, supplementing operational funds, and improving the local supply chain [4]. Project Development - The Singapore subsidiary has established a wholly-owned subsidiary in Malaysia, Singda Superalloy (Malaysia) Sdn. Bhd., which is set to begin construction in July 2025 with a projected construction period of 15 months [3]. - The project will include the production of high-temperature alloy master alloys, corrosion-resistant nickel-based alloys, and other specialized alloys [3]. Financial Position - As of the end of the first quarter of 2025, the company reported cash and cash equivalents of approximately 175 million yuan (about $25 million) available for this investment [4]. - The company has also secured a total bank credit line of 120 million yuan (approximately $17 million) to support its operational needs [4]. Decision-Making Process - The investment decision was approved by the company's board of directors with unanimous support, and it does not require shareholder approval as it falls within the board's authority [5].