On August 5th, Gelunhui reported that Wanfeng Stock (603172.SH) will build a new 20,000-ton/year 1-nitroanthraquinone project within the existing factory area in Keqiao District, Shaoxing City, with a total expected investment of 0.2 billion yuan (subject to the actual investment amount).
1-nitroanthraquinone is an intermediate for anthraquinone dyes and is an important raw material for high-end anthraquinone dyes with wide usage and high consumption. The project is in line with the company's development strategy, is an important measure for the company to consolidate its main business, cultivate new profit growth points, and enhance its overall profitability. It is beneficial to the company's optimization of product structure, improvement of business layout, and development planning for the medium and long term, and is expected to have a positive impact on the company's long-term and sustainable development in the future.