New East plans to invest in First Element and establish a joint venture company
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New East plans to sign an investment agreement with Suzhou First Element Nanotechnology Co., Ltd., intending to invest 18 million yuan in the form of convertible debt, which will convert into equity upon the achievement of certain conditions. At the same time, both parties will jointly invest to establish a joint venture company with a registered capital of 100 million yuan, in which New East will hold a 30% stake. This move aims to upgrade the existing fine chemical business and leverage technological advantages to develop high value-added new material products, aligning with the company's long-term planning
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