Shenzhen Woer Heat-Shrinkable Material Co., Ltd. (stock code: 9981) is pleased to announce a disclosure of a transaction regarding an investment agreement. On March 31, 2026, Shanghai Kete (an indirect non-wholly-owned subsidiary of the company) signed an investment agreement with the Committee. Accordingly, Shanghai Kete conditionally agreed to invest in the project, and the Committee conditionally agreed to assist Shanghai Kete in implementing the project after it successfully acquires the land use rights through bidding. The project will proceed only after Shanghai Kete successfully obtains the land use rights through the bidding process. The project involves the construction of a new production base on the land, which will include R&D laboratories, production plants, office spaces, and other supporting facilities, primarily for the R&D and production of new energy protection products, electronic components, refractory special materials, and aerogel products. The total investment for the project is approximately RMB 1.2 billion, which includes but is not limited to land acquisition, plant construction, and the purchase of production equipment. The investment amount is determined based on the scale of the project and considers factors such as the cost of constructing the plant and supporting facilities, and the investment in production equipment. The investment will be funded through the group's internal resources and does not involve proceeds from global offerings.
Due to one or more applicable percentage ratios (as defined in the Listing Rules) related to the investment agreement exceeding 5% but all being below 25%, the signing of the investment agreement constitutes a discloseable transaction under Chapter 14 of the Listing Rules, and relevant reporting and announcement requirements must be complied with, although the requirement for shareholder approval is exempted. As of the date of this announcement, the terms, timetable, etc., for purchasing land, purchasing equipment, and constructing the production base have not been finalized. The company will issue further announcements regarding the project as required by the Listing Rules. There is no guarantee that Shanghai Kete will ultimately be able to obtain the land through bidding. Furthermore, the construction of the project involves approvals related to land use, environmental protection, planning, and construction, which must also be approved by the relevant authorities. Therefore, the investment agreement may or may not proceed. Shareholders and potential investors are advised to exercise caution when trading the company's securities.
The investment agreement was signed on March 31, 2026, between (1) Shanghai Kete New Materials Co., Ltd. and (2) the Zhejiang Dushan Port Economic Development Zone Management Committee.