Subot’s change of investment and construction of Subot’s new material industrial park project

Recently, Subot (603916) announced that in order to make full use of the industrial chain resources and expand its business in the western region, Jiangsu Subot New Materials Co., Ltd. (hereinafter referred to as “the Company”) plans to invest in the construction of Subot New Materials Industrial Park in Chengdu Petrochemical Industrial Park, with an estimated total investment of 280 million yuan. The Company signed the Project Investment Agreement with the Management Committee of Chengdu Petrochemical Industrial Park, and set up the subsidiary Sichuan Subot New Material Co., Ltd. in Pengzhou City, Sichuan Province as the implementation subject of the project. As of the date of this announcement, the project has not been actually invested.
Due to the slow progress of the initial work of the original project, in order to further rationalize the layout of the company’s base, accelerate the construction of the western base, and timely meet the growing demand of the market, the company decided to terminate the investment in the construction of the Subot New Materials Industrial Park project in the Chengdu Petrochemical Industrial Park, and select a new site to promote the implementation of the project.
The original project has not been actually invested. After the change of the project, the company chose a new site to promote the implementation of the project. The new project has not obtained the approval documents such as the project approval from the relevant government departments, and the project land has not been obtained. There is uncertainty in the implementation.