Grand Industrial Holding (000626.SZ): Yuanda Oil & Chemical plans to invest 100 million yuan to establish a wholly-owned subsidiary, Xinheng Commodities.

Grand Industrial Holding (000626.SZ) announced that its controlling subsidiary, Yuanda Oil & Chemical Co., Ltd. (referred to as "Yuanda Oil & Chemical"), based on operational and development needs, has contributed 100 million yuan to establish a wholly-owned subsidiary, Zhejiang Xinheng Commodities Co., Ltd. (referred to as "Xinheng Commodities"), with a registered capital of 100 million yuan. The registered address is in Ningbo Daxie Development Zone or High-tech Zone. Based on operational and development needs, Yuanda Wuchan has established a controlling subsidiary, Yuanda New Materials Technology (Zhejiang) Co., Ltd. (tentative name, subject to final registration, referred to as "Yuanda New Materials"), with a registered capital of 20 million yuan. Among this, Yuanda Wuchan contributed 10.2 million yuan for a 51% equity stake, Wang Xu contributed 5.8 million yuan for a 29% equity stake, and Zhang Qiang contributed 4 million yuan for a 20% equity stake.