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Fujian Haiyuan New Material Technology Co., Ltd., established in 2012, with the registered capital of RMB 380 million, located in Tongyou Industrial Park, Wuyi New District, Jianyang City, Fujian Province, is the wholly-owned subsidiary of Fujian Haiyuan Automatic Equipments Co., Ltd., focusing on the development of composite material business. HYNM is engaged in the application and product development of composites such as glass fiber, carbon fiber and natural fiber, supported by the equipment and technology advantages of HYM.