Sanwa Refining Chemical (00301) signs strategic partnership agreement with Green Circle

Zhitong Finance App News, Sanhe Refining (00301) announced that on September 4, 2026, the Company and Green Circle Decarbonize Technology Limited (Green Circle) will enter into a strategic partnership agreement (partnership agreement). Under the partnership agreement, the Group has been appointed as the sole supplier and exclusive manufacturer of Green Circle's BOCAPCM-tes Panels for large-scale production in the People's Republic of China (China).

The company has been looking at various opportunities with the aim of further diversifying its business types. The global market for energy-saving products is extremely large, mainly due to strong demand, and the directors believe that demand for energy consumption will continue to grow in the future. It is expected that the cooperation will bring mutually beneficial strategic advantages to the contracting parties and create significant cross-industry synergy by combining the Group's operational flexibility and manufacturing capabilities with GCDT's award-winning energy-saving solutions. As an exclusive manufacturing partner, the Group is fully responsible for production, enabling Green Circle's management to focus on R&D, product design and market expansion. Furthermore, the partnership agreement sets out the framework for cooperation to be carried out under the partnership agreement and further promotes the cooperative relationship to be established by the contracting parties. Operational synergy between the Group's materials manufacturing platform and Green Circle's technology can reduce indirect costs, supply chain bottlenecks, and costs associated with operational risks. This move will speed up BOCAPCM-tes Panels' time to market and enable it to rapidly scale up production to meet the urgent needs of the market ahead of time.

After considering the above factors, the Board of Directors believes that entering into a partnership agreement is in the overall interests of the Company and its shareholders.