Core Viewpoint - The company, Lao Feng Xiang, plans to apply for recognition as a refining enterprise by the Shanghai Gold Exchange to enhance its gold business and complete its precious metals industry chain [1][2] Group 1: Business Expansion - The company aims to establish a modern refining plant and supporting testing laboratory in Jinshan District, Shanghai, in collaboration with partners Cui Lv Co. and Shanghai Xinpai [1] - The new company, Lao Feng Xiang Jingcai, will produce gold bars that meet the certification standards of the Shanghai Gold Exchange and will gradually expand into refining other precious metals such as platinum, palladium, rhodium, silver, and titanium [1] Group 2: Strategic Goals - The project is intended to create a research and production base for precious metals in Shanghai, driving breakthroughs in new materials and processes, and filling existing gaps in the local precious metals industry [2] - The initiative will enhance the company's supply chain control and product value, providing essential materials for jewelry manufacturing and laying the foundation for high-end metal materials across multiple industries [2]