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]

Group 1 - The company, Lao Feng Xiang, announced the establishment of Lao Feng Xiang Precision Materials Company with a registered capital of 50 million RMB, where its subsidiary, Shanghai Lao Feng Xiang Jewelry Research Institute, will contribute 35 million RMB, accounting for 70% [1] - The total investment for the project is expected to be no more than 215 million RMB, with 50 million RMB contributed by shareholders and the remaining amount to be financed through debt [1] - Lao Feng Xiang Precision Materials Company will primarily 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 - The project aims to establish a precious metal research and production base within Shanghai, promoting breakthroughs in new materials and processes, thereby filling the current gap in the precious metal industry in Shanghai [2] - The expansion of the company's gold business will provide essential material support for jewelry manufacturing, enhancing supply chain control and product added value [2] - The initiative is designed to lay the foundation for providing high-end metal materials to multiple industries, achieving mutual benefits and sustainable development for the three cooperating parties [2]