On June 11, 2020, the China Petroleum and Petrochemical Engineering Research Association issued an announcement that the signing ceremony for the strategic cooperation between Fuhai Group and Wanhua Group was successfully held at United Petrochemical, marking a solid and solid cooperation between the two parties in the field of petrochemical product procurement and other fields. As an important step, the two parties conducted in-depth exchanges on further complementary advantages and pragmatic cooperation in a wider field, reaching a broad consensus.

President Liao Guangming introduced the basic situation of Fuhai Group, industrial chain planning, R&D layout and future development ideas. He said that Fuhai Group has been deeply involved in the energy and chemical industry for many years, and has been among the top 500 Chinese chemical companies and top 500 Chinese companies for many consecutive years. It is focusing on building an "integrated R&D, two-place layout" R&D system. In the future, it will integrate superior resources and advance into high-end petrochemicals. In the fields of materials, clean new energy, etc., build a 100 billion-level petrochemical industry group.

President Kou Guangwu introduced the development history, industrial layout, strategic planning and future development of Wanhua Group. He said that Wanhua Group is a globally operating chemical new materials company with three domestic production bases in Yantai, Ningbo and Zhuhai and a BC company in Hungary. The independent research and development field has gradually taken shape, forming an international resource with obvious resource advantages and strong comprehensive strength. Chemical companies are forging ahead towards the world's top 500. He hopes to further strengthen cooperation with Fuhai Group in the future development process and achieve win-win cooperation, bigger and stronger by sharing results.

Chairman Luo Bing said that Fuhai Group will give full play to its own advantages, strive to create a good atmosphere conducive to cooperation between the two sides, and establish a fair, close and stable strategic cooperative partnership. He hopes that the two parties can enter the stage of business cooperation implementation as soon as possible, continue to explore new ideas, new models and new mechanisms in the process of implementation, further strengthen exchanges, consolidate friendship, deepen cooperation, and jointly create cooperation with complementary advantages, resource sharing, and long-term mutual promotion platform.

Secretary Yang Tongxian said that Wanhua Group is the top chemical company in China, and it is also one of the few ethnic companies that can compete with international multinational chemical giants. As a leading enterprise in Dongying City, Fuhai Group has strong comprehensive strength and broad prospects for future cooperation. The field is promising. He hopes that the two sides will take this strategic cooperation as an opportunity and rely on their respective advantages to complement and complement each other in terms of the depth and breadth of industrial synergy, mutual benefit, and common development.

At present, Fuhai Group is taking the opportunity of the transformation and upgrading of the petrochemical industry to focus on building a leading energy and chemical platform that is "safe, green, intelligent, open and responsible". In the future, based on this strategic cooperation, Fuhai Group will gradually expand the breadth and depth of cooperation with Wanhua Group, and work together to build a high-end petrochemical ecological community of resource integration, open sharing, and symbiosis. Editor/Peng Xue