新凤鸣：拟投28亿美元建埃及功能性纤维项目

Core Viewpoint - The company plans to initiate a 360,000 tons/year functional fiber project in Egypt with a total investment of approximately 1,977.86 million yuan [1] Group 1: Project Details - The project will be managed by the company's wholly-owned subsidiary, Jiangsu Xintuo, through its overseas subsidiaries, Hong Kong Industrial and Beisi Road, establishing a new materials company in Egypt [1] - The project is located in the Suez Canal Economic Zone, specifically in the China-Egypt TEDA Suez Economic and Trade Cooperation Zone, with a construction period of 24 months [1] - The expected annual production capacity of the project is 360,000 tons of functional polyester fiber [1] Group 2: Financial and Approval Aspects - The total investment for the project is approximately 1,977.86 million yuan, funded by the company's own funds and bank financing [1] - This external investment does not constitute a related party transaction or a significant asset restructuring [1] - The matter has been approved by the company's board of directors and is pending approval from the shareholders' meeting and relevant government departments of both countries [1]