明冠新材：拟终止50亿合肥项目，2.9亿新项目已启动

Core Viewpoint - The company has decided to terminate the investment in the solar backsheet and functional film production base project in Feidong County due to industry overcapacity and intensified price competition in the photovoltaic sector [1] Group 1: Project Termination - The project was signed in 2023 with an estimated total investment of 5 billion yuan [1] - Cumulative investment to date is 1.6341 million yuan (excluding tax), with outstanding payments of 871,600 yuan (including tax) [1] - The decision to terminate was made in agreement with the Feidong County government to avoid increased operational costs [1] Group 2: New Project Development - The company plans to transfer the first phase of production capacity from the Hefei project to Yichun, Jiangxi [1] - The new project will focus on producing 350 million square meters of special functional films, with a total investment of 290 million yuan [1] - Construction of the new project has already commenced and is subject to approval by the shareholders' meeting [1]