According to CoinMeta, Hualing Steel announced that its subsidiary, Hualing ArcelorMittal Automotive Sheet Co., Ltd., plans to implement the third-phase construction project for automotive sheets. This includes the establishment of a new high-efficiency vacuum coating production line with an annual capacity of 850,000 tons and a continuous annealing line with an annual capacity of 1 million tons, along with supporting facilities. The total estimated investment for the project is 3.147 billion yuan (including taxes), with 50% coming from the company's own funds and 50% from bank loans. The construction period is set at 28 months. Once the project is operational, the annual galvanized production capacity of the automotive sheet company will increase from 2 million tons to 3 million tons. This proposal has been approved at the twelfth meeting of the company's ninth board of directors and does not require further review by the shareholders' meeting.