On December 30, Gelonghui reports that Xinyangfeng Agricultural Technology (000902.SZ) has announced that, in accordance with the company's overall strategic layout, it plans to sign a "Phosphorus-Based New Materials Circular Economy Industrial Park Project Cooperation Agreement" with the People's Government of Yichang City Yiling District and the Yichang High-Tech Industrial Development Zone Management Committee to meet the company's long-term planning and development strategies and optimize the company's industrial structure. The company convened the eighth meeting of the ninth Board of Directors on December 30, 2024, which reviewed and approved the proposal on signing the cooperation agreement with the aforementioned entities and authorized the company management to handle all matters related to this external investment, including but not limited to signing agreements related to the project, handling the establishment of the project company, applying for relevant approval procedures, and organizing implementation.
The project will be located in the Shujiazui area of Yichang High-tech Zone, with a total investment of approximately 9.6 billion yuan, divided into two phases. The first phase will invest approximately 5.2 billion yuan, with fixed asset investment around 4 billion yuan, covering about 730 acres, and constructing a 1.5 million tons/year mining facility, a 0.8 million tons/year sulfuric acid plant, a 0.3 million tons/year phosphoric acid facility, a 0.15 million tons/year food-grade phosphoric acid facility, a 0.08 million tons/year potassium dihydrogen phosphate facility, a 0.05 million tons/year flame retardant facility, a 0.05 million tons/year polyphosphate facility, a 0.08 million tons/year industrial-grade monoammonium phosphate facility, and a 0.2 million tons/year powdered monoammonium phosphate facility along with supporting facilities.
The second phase is planned to invest approximately 4.4 billion yuan, with fixed asset investment of 3.8 billion yuan, covering about 570 acres, and constructing a 1.5 million tons/year mining facility, a 0.8 million tons/year sulfuric acid facility, a 0.3 million tons/year phosphoric acid facility, a 0.15 million tons/year food-grade phosphoric acid facility, a 0.05 million tons/year flame retardant facility, a 0.08 million tons/year potassium dihydrogen phosphate facility, a 0.03 million tons/year anhydrous hydrofluoric acid facility, a 0.01 million tons/year electronic-grade hydrofluoric acid facility, a 0.018 million tons/year white carbon black facility, and a 0.6 million tons/year specialized crop fertilizer facility. The implementation of the second phase project will be promoted in due course based on the progress of the first phase, with specific cooperation details agreed upon separately by the three parties.
