Core Viewpoint - Hubei Zhenhua Chemical Co., Ltd. announced that its wholly-owned subsidiary, Chongqing Minfeng Chemical Co., Ltd., has received environmental approval for a new project and signed agreements for relocation and compensation [2][3]. Summary by Sections Relocation Overview - The relocation is in response to the environmental upgrade directives from the Chongqing municipal government, involving the relocation of facilities and equipment from the current site in the northern industrial park of Tongnan District [7]. - The approved project includes seven sub-projects, such as a 200,000 tons/year chromium compound project and a 50,000 tons/year sulfuric acid project [7]. Agreement Details - Chongqing Minfeng signed a relocation asset acquisition agreement with Chongqing Tongnan District Industrial Investment Development Group Co., Ltd., with a total acquisition price of 517.569 million yuan [2][8]. - A separate compensation agreement for machinery and equipment was signed with the management committee of the Tongnan High-tech Industrial Development Zone, amounting to 244.7286 million yuan [2][8]. Payment Schedule - The payment for the acquisition will be made in multiple installments, including an initial payment of 20% upon signing, followed by additional payments based on project milestones [10][11][12][14]. - The total compensation amount for machinery and equipment will also be paid in stages, with 20% due before the new site is unveiled [16][17][18]. Impact on Company Operations - The current operations at the old site are stable, and the relocation will not affect the ongoing production until the new facility is fully operational [19].

Core Viewpoint - The company is responding to the environmental upgrade and relocation directives from the Chongqing municipal government by moving its subsidiary's operations in the Tongnan Industrial Park [1][2] Group 1: Environmental Compliance and Project Approval - The company’s subsidiary, Chongqing Minfeng, has received approval from the Chongqing Ecological Environment Bureau for the "Chromium-Titanium New Materials Green Intelligent Manufacturing Environmental Relocation Project," which includes seven sub-projects [1] - The approved projects include an annual production capacity of 200,000 tons of chromium compounds and a 5000 tons/year vitamin K3 project among others [1] Group 2: Relocation and Compensation Details - The relocation site is specified as D19-2/02 in the Tongnan High-tech Zone, covering land use rights, buildings, equipment, and ongoing construction [2] - The total compensation for the relocation amounts to 76,229.76 million yuan, which includes land acquisition costs and equipment compensation [2]

Core Viewpoint - The company is responding to the environmental upgrade and relocation directives from the Chongqing municipal government by moving its subsidiary's operations to comply with new regulations [1][2] Group 1: Environmental Compliance and Project Approval - The company’s subsidiary, Chongqing Minfeng, has received approval from the Chongqing Ecological Environment Bureau for its "Chromium-Titanium New Materials Green Intelligent Manufacturing Environmental Relocation Project," which includes seven sub-projects [1] - The approved projects include a 200,000 tons/year chromium compound project, a 500,000 tons/year sulfuric acid co-production project, a 5,000 tons/year vitamin K3 co-production project, and several others focused on special new materials and energy utilization [1] Group 2: Relocation and Compensation Details - The relocation site is located in the high-tech zone of Tongnan District, with a total compensation amount of 762.30 million yuan, which includes land use rights, construction costs, and equipment [2] - The compensation for the land acquisition is approximately 517.57 million yuan, while the compensation for machinery and equipment amounts to about 244.73 million yuan [2]