Shanghai Hongda New Material Co., Ltd. announced that its subsidiary Dongguan New Oriental Technology Co., Ltd. will establish a wholly-owned subsidiary named Tianchang Xindongcheng New Materials Co., Ltd., in order to optimize the business resources allocation and improve strategy layout. The new company will focus on the R&D and technology promotion of new materials, sales of synthetic materials, production and sales of rubber products, sales of quality synthetic rubber, production of plastic, import & export of goods and technology.