Dalian Heavy Industry: Announcement of Resolutions from the 20th Meeting of the 5th Board of Directors
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On November 30, Gelonghui reported that Dalian Heavy Industry (002204.SZ) announced that its 20th meeting of the 5th Board of Directors had approved the "Proposal on Investing in and Enhancing Production Capacity through a Wholly-Owned Subsidiary."
To address the company's overall production capacity constraints and ensure a swift response to customer demands and market changes in the Jiangsu and Zhejiang regions, the Board of Directors has approved an investment of 15.58 million yuan by its wholly-owned subsidiary, Dalian Huarui Heavy Industry (Yancheng) Equipment Manufacturing Co., Ltd., to enhance the production capabilities at the Yancheng facility. The funds will primarily be used to purchase plate-processing equipment, maintain and upgrade existing machining tools, and improve office and operational working conditions.