According to the Zhitong Finance APP, Longda (688231.SH) announced that the company plans to increase investment in its wholly-owned subsidiary in Singapore, Xinda Company. Xinda Company previously registered its wholly-owned subsidiary, Xinda Malaysia Company, on July 24, 2024, to implement project construction.

To further match international customer and market demands, the company's overseas project team, after in-depth market research, needs to add product lines such as corrosion-resistant alloys and high-performance special deformation alloys based on the original planned product line (production of casting high-temperature alloy master alloys, special alloys, and metal materials); at the same time, to further ensure the sustainable and stable operation of the project in the later stage, the leasing factory plan needs to be adjusted to a land purchase and self-built factory plan. Xinda Malaysia Company will subsequently cover a series of product lines including high-temperature alloy master alloy bars, corrosion-resistant nickel-based alloys, high-performance special deformation alloys, nickel-iron alloys, and special stainless steel alloys. To increase comprehensive investment needs for expanding production capacity at overseas manufacturing bases, upgrading equipment configuration, and improving local operational systems, the company will implement additional investment in Xinda Malaysia Company through Xinda Company.

It is reported that the additional investment amount of $40 million is mainly intended for expanding the factory and supporting infrastructure; increasing the configuration of key production and testing equipment; supplementing operating funds and raw material procurement reserves; and improving the local supply chain system and management capability construction