Huifeng Diamond Plans To Invest 1 Billion Yuan To Build CVD Diamond Project in Baotou City

Huifeng Diamond announced on December 17th that it plans to invest in the construction of CVD diamond projects in Kundulun District, Baotou City, Inner Mongolia. The total investment is expected to be 1 billion yuan, and the funds will come from the company's own cash. The project is planned to be implemented in two phases, and the company will dynamically adjust the investment scale and progress of each phase based on market conditions and equipment iteration progress.

 

Among them, the first phase investment is about 500 million yuan, with plans to install 500 MPCVD equipment, mainly for the research and production of CVD cultivated diamonds and CVD diamond films. It is expected to be gradually completed and put into operation within 4-5 years. To ensure the smooth implementation of the project, Huifeng Diamond plans to sign an investment agreement with the Kundulun District People's Government of Baotou City.

Huifeng Diamond stated that this investment is in line with its own development strategy, helps to enhance economic efficiency and sustainable development capabilities, has a positive impact on operational development, and does not harm the interests of the company and shareholders. This transaction does not constitute a significant asset restructuring or related party transaction.

According to the agreement, given the positive role of the project in local economic development, CVD diamond industry chain improvement, and employment promotion, the Kundulun District Government will provide policy support for Huifeng Diamond in the application for strategic emerging industry projects, new energy wind power construction indicators, and special fund applications