Freewon's subsidiary plans to invest 500 million yuan to build a high-end wire material project for strong core temperature treatment

According to the announcement from Freewon (688678.SH), based on the increasing demand for ultra-high strength and high toughness steel wires in the fields of bridges, high-speed rail, power grids, and coal, the company's controlling subsidiary, Qiangxin Technology, plans to sign the "Investment Agreement for the Qiangxin Isothermal Treatment High-end Wire Rod Materia" with the Management Committee of Nantong High-tech Industrial Development Zone. The plan is to invest in the research and production project of isothermal treatment high-end wire rod material in Nantong High-tech Zone, with a total project investment of 500 million yuan, including approximately 300 million yuan in new fixed asset investment (of which about 200 million yuan is for equipment investment, and about 100 million yuan for land and factory buildings). The project construction period is 26 months, and it is expected to be completed and put into production by the end of March 2028.

Upon completion of this project, the company's controlling subsidiary will further expand its research and production capacity for wire rod materials such as bridge cables, coal mine anchor cables, ultra-high strength prestressed steel strands for railway infrastructure, ultra-high voltage overhead lines, diamond wires, and marine ropes. The implementation of the project is beneficial for enriching the company's product categories and increasing its core competitiveness in wire rod research, production, and sales. It will also help optimize the company's business structure, further expand its business segments, enhance the company's sustainable development capabilities, and have a positive impact on the company's long-term development