[Puyuan Materials: The subsidiary plans to invest no more than 1 billion yuan in the construction of the Meishan Yindele Phase III project] On October 26, Puyuan Materials (603196.SH) announced that Meishan Yindele, a wholly-owned subsidiary of the company's holding subsidiary Yindele Group, plans to purchase approximately 150 acres of chemical land near the existing production base with its own and self-raised funds for the planning and construction of the Meishan Yindele Phase III project. The total planned investment of the project shall not exceed 1 billion yuan, of which the fixed asset investment shall not exceed 800 million yuan. The project mainly builds a silicon-carbon precursor resin material production base with an annual output of 100,000 tons, a new energy functional material production base with an annual output of 200,000 tons, and a research and development achievement transformation base. This matter still needs to be submitted to the shareholders' meeting for review.