Sixin Group (08349) issued an announcement. Guosi, an indirect wholly-owned subsidiary of the company, was announced in November 2022...
According to Zhitong Finance App, Sixin Group (08349) announced that Guosi, an indirect wholly-owned subsidiary of the company, signed contract I with supplier I at the cost of RMB 7.6565 million on November 17, 2022 and November 20, 2022, respectively, and contract II with supplier II to produce and install equipment II at a cost of RMB 6.3424 million.
Due to material demand trends and the rapid development of sales of industrial silica sand materials, the Group decided to launch the industrial silica sand business in 2022. The board of directors believes that a safe and reliable industrial silica sand production plant is an important infrastructure for Sinosilicon.
The board believes that demand for industrial silica sand will increase dramatically in the near future. The board of directors believes that the conclusion of such contracts is a good opportunity for the Group to further strengthen and develop the silica sand sales business of China Silicon Industry, and it is expected that the conclusion of such contracts will have a positive impact on the performance of the company's relevant business segments and have the potential to bring considerable business volume and profit to the company.