Investment Overview - The company plans to invest CNY 28 million to establish a wholly-owned subsidiary named Anhui Wanwei Xingye Material Co., Ltd. [1][2] - The investment has been approved by the company's board of directors and does not require shareholder approval as it falls within the board's decision-making authority [2][4] Purpose of Investment - The establishment of the subsidiary aims to optimize resource allocation, enhance centralized procurement capabilities, reduce procurement costs, and minimize related party transactions [2][4] - The subsidiary will focus on centralized procurement and supply assurance, aligning with the company's long-term strategic development needs [2][4] Board Approval - The board of directors unanimously approved the investment proposal with 9 votes in favor, 0 against, and 0 abstentions [2][4] - The investment amount does not exceed 10% of the company's most recent audited net assets, thus falling within the board's investment decision-making authority [2][4] Impact on the Company - The new subsidiary will independently handle procurement operations, which is expected to enhance the company's bargaining power and reduce costs [4] - This investment aligns with the company's strategic goals and is anticipated to improve overall competitiveness without adversely affecting financial status or operational results [4] Current Status of the Subsidiary - The subsidiary is currently in the preparatory stage, and specific details will be finalized upon approval from the market supervision and management department [2][3]