Polyrocks Chemical Co.Ltd(688669)
On matters considered at the 35th meeting of the 5th board of directors
Opinions of independent directors
In accordance with the company law and other relevant laws and regulations and the articles of association, as an independent director of Polyrocks Chemical Co.Ltd(688669) (hereinafter referred to as “the company”), we have carefully studied and based on our independent judgment, made the following independent opinions on the relevant deliberation matters put forward at the 35th meeting of the Fifth Board of directors:
1、 Opinions of independent directors on the proposal on foreign investment and establishment of subsidiaries and development of new business
The independent directors of the company believe that the purpose of this foreign investment and establishment of subsidiaries and new business is to improve the layout of the company in the recycling packaging industry, realize the integration concept of the company from production and manufacturing, molding and assembly to operation and recycling, lay the foundation for the company to improve the aggregate recycling ecosystem in the future and enhance the core competitiveness of the company. The deliberation procedures for the establishment of subsidiaries and the development of new business in this foreign investment comply with the relevant provisions of laws and regulations such as the Listing Rules of shares on the science and Innovation Board of Shanghai Stock Exchange and the articles of association. This foreign investment uses the company’s own funds, which will not have an adverse impact on the company’s financial and operating conditions, and there is no damage to the company and its shareholders.
In conclusion, the independent directors of the company unanimously agreed to consider the establishment of subsidiaries and new business through foreign investment.
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