On March 3rd, the ninth session of the board of directors of the Twelfth Meeting of the company adopted the "motion on investment in the construction of high-grade textile composite nonwovens". The directors agreed to invest in the construction of high grade textile composite nonwovens in the Xinye textile industrial cluster area. The project will invest 120 million yuan.

The announcement shows that the project is invested in the construction of two high-grade spinning and weaving composite nonwovens production lines, using the technology of spinning composite nonwovens, developing and producing products of health, medical treatment, industrial protection and environmental protection. The total plant area of the project is 7200 square meters, and the existing factory buildings are built by enterprises. The project will invest 120 million yuan, including 20 million yuan of self raised funds and 100 million yuan of bank loans. The construction period is 6 months. After the completion of the project, it is expected to produce 25 thousand tons of high grade spinning composite nonwovens annually, with an annual sales revenue of 425 million yuan and a total profit of 31 million 900 thousand yuan.

Xinye textile said that as a new type of high-tech basic material, non-woven materials have maintained a sustained high growth momentum at present. High grade nonwovens have become the trend of replacing traditional materials, and the demand for high quality nonwovens has increased dramatically. The market of spinning and weaving composite nonwovens has huge capacity and broad space for development. After the project is completed, it can improve the overall equipment level of the company, improve the product structure of the company, expand the proportion of high-end products, further enhance the market competitiveness of the company, realize transformation and upgrading, and open up more space.