Rongsheng Petrochemical (002493.SZ): Signed a project development agreement with Saudi Basic Industries Corporation

Zhitong Finance App News, Rongsheng Petrochemical (002493.SZ) announced on July 16, 2026. In order to further promote the construction of the Jintang New Materials Project (“New Construction Project”), a wholly-owned subsidiary of the company, Rongsheng New Materials (“Rongsheng New Materials”), the company and Rongsheng New Materials intend to sign a “Project Development Agreement on New Construction Projects” (“Project Development Agreement”) with Saudi Basic Industries. According to the agreement, the company and Saudi Basic Industries Corporation are evaluating Saudi Basic Industries's potential investment to hold no less than 30% to no more than 50% of Rongsheng New Materials's shares for the purpose of new construction projects.

The signing of the “Project Development Agreement” this time will help the company cooperate with top international petrochemical giants to speed up project implementation and optimize the capital structure. By introducing advanced production technology and core technology systems, the company will comprehensively enhance the level of international cooperation and comprehensive competitiveness, in line with the company's long-term development strategy and industrial layout plan.