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Lianchuang Co.
, Ltd.
announced that the company's subsidiary Zibo Lianchuang Polyurethane Co.
, Ltd.
("Lianchuang Polyurethane" for short) plans to invest RMB 100 million to establish a wholly-owned subsidiary Shandong Lianchuang Plastic Technology Co.
, Ltd.
(tentative name, specific to market supervision and management The result of the approval of the department shall prevail)
.
The purpose of this subsidiary's foreign investment is to improve the company's degradable plastic-related industry chain and expand the application field of degradable plastic products, which is in line with the company's strategic development plan and expands the company's business scope
.