SHANGHAI, China, July 07, 2026 (GLOBE NEWSWIRE) -- Texxon Holding Limited (Nasdaq: NPT) ("Texxon", together with its subsidiaries, the "Company" or "we"), a leading provider of supply chain management services in the plastics and chemical industries in East China, today announced that its Henan polystyrene production facility officially commenced operations in June 2026, marking the completion of the facility's construction and commissioning process and a significant milestone in the Company's strategic expansion into manufacturing.
The commencement of operations represents an important step in Texxon's long-term development strategy. Since the launch of the project, the Company has carried out facility construction, equipment installation, system commissioning, personnel training and operational readiness preparations in accordance with applicable safety, environmental and industry standards. Prior to commencing operations, the facility successfully completed the required inspections and acceptance procedures relating to fire protection, environmental compliance, workplace safety and other regulatory requirements.
Located in Taiqian County, Puyang City, Henan Province, at the intersection of Henan, Shandong and Hebei provinces, the facility benefits from a strategic location within one of China's major manufacturing and logistics corridors.
According to an independent industry report published by SCI99, a leading commodity market intelligence provider in China, the Henan facility is strategically positioned to serve key downstream manufacturing regions across Central and Northern China. The report highlighted that the facility lies within a 500-km radius of China's major home appliance manufacturing hubs, including producers of refrigerators, washing machines, and air conditioners, and benefits from well-developed transportation links to major ports and railway networks. This strategic location is expected to enable efficient access to key customer clusters and logistics infrastructure, enhancing supply chain efficiency and responsiveness to market demand.
The Henan facility has an annual production capacity for polystyrene of up to 600,000 tons and has been designed to support the production of a variety of general-purpose polystyrene ("GPPS") and high-impact polystyrene ("HIPS") products. These materials serve a wide variety of end-use applications, ranging from high-speed injection molding for consumer products and toys to more demanding applications such as air-conditioner housings, refrigerator liners, and other durable appliance components.
Mr. Hui Xu, Chief Executive Officer and Chairman of the Company, commented: "The commencement of operations at our Henan production facility marks a major milestone in the Company's development and reflects years of planning, construction and operational preparation. We are pleased to see the facility successfully enter the production stage and begin contributing to our long-term strategic objectives.
"It not only expands our manufacturing capabilities but also strengthens our ability to serve customers through newly established production capabilities, enhanced supply chain responsiveness and broader regional market coverage. We believe its strategic location, which provides convenient access to key markets in Henan, Shandong and Hebei provinces and supports more efficient logistics and delivery, positions us well to capture opportunities in China's growing plastics and consumer manufacturing sectors.
"This milestone achievement also represents an important step in our transition from a primarily trading-focused business to a more integrated manufacturing and supply chain services platform, driving margin expansion and delivering long-term value to our shareholders."
About Texxon Holding Limited
Texxon Holding Limited is a leading provider of supply chain management services in the plastics and chemical industries in East China. Through its polystyrene production facility and technology-enabled platform, the Company manufactures and sells polystyrene products and provides a full spectrum of supply chain management services to Chinese Small and Medium-size Enterprises (SME) customers, including procurement, shipping and logistics, payments and fulfillment services. It aspires to build the largest one-stop plastic and chemical raw material supply chain management platform in China, to streamline the complex and labor-intensive raw material procurement process and enhance convenience, cost-effectiveness, and efficiency for customers. Texxon has built a highly scalable distributed software architecture for continuous improvement, and an effective User Experience Design (UED) process to improve the customer experience. In addition, with over a decade of experience, the Company has amassed substantial transaction data, including supplier and customer information, price trends, category-specific price indexes and market demand volume, to analyze price trends and market demands and make informed decisions. For more information, please visit the Company's website: https://ir.npt-cn.com/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, but not limited to, the statements regarding the expected timeline, commissioning, and production of the Henan Polystyrene Factory. These forward-looking statements involve known and unknown risks and uncertainties related to market condition and other factors discussed in the "Risk Factors" section of the Company Annual Report on Form 20-F for the fiscal year ended June 30, 2025 filed with the U.S. Securities And Exchange Commission and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions in this announcement. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's latest Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
Texxon Holding Limited
Investor Relations Department
Email: ir@totrade.cn
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
