On March 21, Yonggao Co., Ltd. (hereinafter referred to as “Company” or “Yongao Shares”) (002641) issued a notice stating that the company intends to invest in Kenya to establish a wholly-owned subsidiary Yonggao Pipe Industry Africa Co., Ltd. (YONGGAO AFRICAN) PIPING Co., LTD), the investment amount is 2 million US dollars. At the same time, the company's controlling subsidiary, ERA (Hong Kong) Investment Co., Ltd. (hereinafter referred to as "Hong Kong", "Buyer") and Panyu Zhujiang Steel Pipe Co., Ltd. (hereinafter referred to as "Pearl Steel Pipe", "Seller") signed "About PCK Steel Middle East" FZE's Equity Acquisition Agreement, Hong Kong intends to acquire 100% of PCK Steel Middle East FZE (hereinafter referred to as "PCK") held by Zhujiang Steel Pipe for RMB 9.13 million.

Yonggao shares said that the foreign investment is in line with the company's long-term development strategy and investment direction, grasping the development opportunities of the national “Belt and Road” policy, accelerating the internationalization process of Yonggao shares, and helping the company set up a plastic pipe production base overseas. To enable the company to better meet customer needs, better expand overseas markets, accumulate international experience, cultivate international talents, further enhance the international market share of the company's plastic pipe products, enhance the competitiveness of the company's overseas market and expand the company's brand. International visibility.

As the largest core subsidiary of ERA Group, Yonggao is a leading company in the development and manufacture of chemical building materials in China. It has been engaged in the research, development, manufacturing and sales of plastic pipes. It is currently an influential growth enterprise in the field of plastic pipes in the country. The company has successively won the "Zhejiang Province's first batch of honest demonstration enterprises", "National integrity and law-abiding township enterprises", "National Torch Program high-tech enterprises", national "high-tech enterprises", Zhejiang Province industry leading enterprises and "private enterprises nationwide" The top 500 and many other honors. At the same time, we will continue to increase the intensity of technological innovation, improve our independent innovation capabilities, strive to develop new plastic pipe products, optimize the company's production capacity and industrial upgrading, and implement the strategy of going global, actively participate in international competition, and promote the "ERA" products to a wider domestic market. Outer market.

Yonggao has been paying close attention to the international market in recent years. In 2018, the company comprehensively promoted all aspects of production and management, and achieved fruitful results: breakthroughs in efficiency, marketing achieved challenging goals, management to achieve standardization, intellectual production to enhance substantial production capacity, technology innovation tree industry benchmark, brand around the market The operation of the line has achieved overall progress and the subsidiaries have achieved coordinated development. In the whole year, the total sales revenue was 5.335 billion yuan, a year-on-year increase of 17.77%, the profit and tax was 454 million yuan, a year-on-year increase of 15.40%, and the net profit was 246 million yuan, a year-on-year increase of 27.50%.

In 2019, the company will continue to adhere to the cross-cutting policy of “open source, throttling, risk prevention, and implementation”. We will do a good job of internal strength, take the opportunity to dig deeper, break through steady growth, and seek development with responsibility. Facing the challenging overseas pattern, Yonggao will start the new journey of the ERA with the 35th anniversary of the Group's entrepreneurship.