Core Viewpoint - The company has successfully completed the commissioning and trial production of two BOPA film production lines, with a designed annual capacity of 38,000 tons, marking the full operation of its fundraising investment projects [1] Production Capacity Expansion - The "Annual Production of 38,000 Tons High Barrier Nylon Film Project" implemented by Donghong Membrane has completed equipment debugging and has officially commenced production [1] - The company has also initiated production in one production line of the "Annual Production of 200 Million Square Meters Wet Lithium-ion Battery Separator Project" in Wuhu, with a designed annual capacity of 100 million square meters [1] - In the "Annual Production of 500 Million Square Meters Dry Lithium-ion Battery Separator Project" in Cangzhou, two production lines have commenced production, with a combined designed annual capacity of 200 million square meters [1] Market Position and Competitiveness - The commencement of production for the BOPA film and lithium-ion battery separator production lines is expected to enhance the company's production capacity, thereby increasing its market share and product competitiveness [1]

Core Insights - Cangzhou Mingzhu announced on November 3 that several investment projects have been completed and officially put into production [2] Group 1: Production Projects - The "Annual Production of 38,000 Tons High Barrier Nylon Film Project" implemented by Cangzhou Donghong Membrane Technology Co., Ltd. has completed equipment debugging and trial production, with two BOPA film production lines officially in operation as of October 31, 2025 [2] - All fundraising investment projects related to the company have now been put into production [2] Group 2: Lithium Battery Separator Expansion - The "Annual Production of 200 Million Square Meters Wet Lithium-Ion Battery Separator Project" by subsidiary Wuhu Mingzhu Separator Technology Co., Ltd. has seen one production line with an annual design capacity of 100 million square meters put into operation [2] - The "Annual Production of 500 Million Square Meters Dry Lithium-Ion Battery Separator Project" by subsidiary Cangzhou Mingzhu Lithium Separator Co., Ltd. has two production lines with a combined annual design capacity of 200 million square meters now in operation [2] - The launch of the BOPA film and lithium-ion battery separator production lines will significantly enhance the company's production capacity, helping to further increase market share and overall competitiveness [2]