Xinxiang chemical fibre The sixth twenty-one session of the board of directors was held in December 24, 2010. It passed the motion of the company's contribution to the establishment of a wholly owned subsidiary.

The company intends to invest in Xinjiang Industrial Park Establishment of wholly owned subsidiary " Xinjiang egret fibre Co., Ltd. "After the establishment of the company, the first phase of the new cellulose project with an annual output of 100000 tons will be organized and implemented. After the completion of the project, the new fiber (cotton pulp) with high quality and high quality will be provided to Xinxiang chemical fiber in a long-term and stable manner.

Name of the company: Xinjiang egret fibre Co., Ltd.

Registered capital: 10 million yuan.

Scope: mainly used for the production of new cellulose and other related businesses.

Project outline: the first phase of the project will produce 40000 tons of new cellulose per year, with a total investment of about 100 million yuan, and the funds required by the project will be raised by the enterprise itself.

The environmental assessment report of the project has been approved by the Xinjiang production and Construction Corps, the third division of agricultural construction (division [2010]60, "the environmental impact statement on the annual output of 40000 tons of cellulose project by Xinjiang egret Fiber Co., Ltd.").

The project is scheduled to start construction in January 2011, with a construction period of one year.