XTC(SH:600549) Ge Long Hui A P P·2025-08-01 08:44Core Viewpoint - Xiamen Tungsten Co., Ltd. has approved the establishment of a wholly-owned subsidiary in Chengdu, Sichuan, to undertake the construction of a cutting tool production base, aligning with national industrial policies and the company's strategic development plan [1] Group 1: Company Developments - The new subsidiary, Chengdu Jinlu Cutting Tools Co., Ltd., will have a registered capital of 400 million yuan, with phased contributions based on project needs [1] - The total investment for the project remains at 1.05207 billion yuan, with fixed investment accounting for 1.00192 billion yuan [1] - The project is expected to be completed by December 2030, with the actual construction timeline subject to real conditions [1] Group 2: Production Capacity - Upon completion, the production base will have an annual capacity of 30 million indexable inserts, 4 million solid tools, and 2 million superhard tools [1] Group 3: Strategic Implications - The establishment of the new subsidiary will enhance the company's ability to respond quickly to market demands, localize technical services, and maintain customer relationships [1] - This move is expected to improve the company's scale and position within the industry, accelerating its strategic layout and development [1]