Wankai Subsidiary Zhengdakai and BASF Forge Strategic Collaboration in Sustainable Chemistry

The collaboration will leverage BASF's global leadership in chemical innovation and the extensive industrial expertise of the Wankai group in the polyester value chain. Both parties aim to drive technological progress and industrial synergy in areas critical to the circular economy.

Mr. Lou Jianfeng, Chairman and President of BASF Greater China, stated, "This partnership with Sichuan Zhengdakai represents a shared commitment to innovation and sustainability. By combining our strengths, we can develop more efficient and environmentally sound solutions for the chemical industry and contribute to a lower-carbon future."

Sichuan Zhengdakai, a key investment by Wankai and its parent company Zhink Group in Western China, is a major player in Dazhou's industrial landscape. Its project in the Puguang Economic Development Zone is one of the largest single industrial investments in the region.

Mr. Shen Zhigang, Chairman of Zhink Group, commented, "This collaboration with BASF is a pivotal step in our strategy to build a highly integrated and resilient industrial ecosystem in Dazhou. It underscores our commitment to leveraging local natural resources, like natural gas, to produce high-value chemicals and foster the development of a green, advanced materials cluster."

Under the memorandum, BASF and Sichuan Zhengdakai will explore joint initiatives in natural gas-based fine chemicals and advanced plastic recycling technologies. The cooperation aims to enhance resource efficiency and promote the circular economy for plastics.

About Wankai New Materials Co., Ltd.

Wankai New Materials Co., Ltd. is one of the leading Chinese producers of PET (Polyethylene Terephthalate) materials. Specializing in the R&D, production, and sales of bottle-grade PET, the company operates world-class manufacturing facilities in Haining, Zhejiang Province and Chongqing city, with an annual production capacity of 3 million tons. Its products are exported to over 100 countries and regions worldwide, making it a globally recognized representative of the "Made in China" standard in the PET industry.

About Sichuan Zhengdakai New Materials Co., Ltd.

Sichuan Zhengdakai New Materials Co., Ltd., a wholly-owned subsidiary of Wankai New Materials, is a key provincial-level project in Sichuan. The company is focused on the production of MEG (Monoethylene Glycol) - a crucial raw material for PET production - and electronic-grade DMC (Dimethyl Carbonate) from natural gas. Upon reaching full production capacity, the company will significantly enhance the vertical integration and supply chain resilience of Wankai's polyester industry value chain.