Highsun Synthetic Fiber Technologies Co., Ltd

To Promote "The Belt and Road Initiative": Highsun Holding Group has Built Strategic Cooperation with Spanish Petroleum Company

On November 20, Yu Weiguo, secretary of the Fujian Provincial Committee of the Communist Party of China and director of the Standing Committee of the Provincial People's Congress, led a Fujian delegation to Madrid and began a visit to Spain. Chen Jianlong, Chairman of Highsun Holding Group, and Chen Zhong, president of Hengshen Holding Group, accompanied the delegation to Spain to carry out economic and trade exchanges with Western companies, and reached a global strategic cooperation with Cepsa Quimica, a wholly-owned subsidiary of Spanish Petroleum Company.

The purpose of the Fujian delegation's visit is to actively participate in and actively serve the construction of the "the Belt and Road Initiative". The itinerary of the visit includes Japan, France, and Spain. The purpose is to strengthen exchanges and cooperation with the three countries in the fields of economy and trade, investment, third-party cooperation, tourism, and humanities, to deepen the relationship with friendly provinces and cities, to further promote the higher level of opening up of Fujian Province to the outside world, to take the lead in building a new open economic system, and to better play its role in serving the overall situation of the country.

On the afternoon of the 20th, the signing ceremony for global strategic purchasing between Highsun Holding Group and Cepsa Quimica was held in Madrid. Fujian Provincial Party Committee Secretary Yu Weiguo, Provincial Party Committee Director Lin Zhongle, Provincial Party Committee Policy Research Office Director Wu Zidong, Provincial Committee Director Zhang Canmin, and Provincial Committee Director of the Department of Commerce Wu Nanxiang, Director of the Foreign Affairs Office of Fujian Provincial People's Government Wang Tianming, Chairman of Highsun Holding Group Chen Jianlong and Chief Operating Officer Juan Antonio Vera of Spanish Petroleum Company attended the ceremony.

Witnessed by Secretary Yu Weiguo, the president Chen Zhong, on behalf of the group, signed a letter of intent for strategic cooperation with Jose Manuel Martinez, CEO of Cepsa Quimica, pushing the industrial cooperation between Fujian enterprises and internationally renowned enterprises to a new level.

During his visit to Spain, Secretary Yu Weiguo said that China-Spain exchanges have a long history, and the types of trade exchanges between Fujian and Spain are very rich. In the future, Fujian and Spain can expand the scope of investment and create new growth points for cooperation and development. This time, Highsun Holding Group and Cepsa Quimica jointly decided to establish a global strategic cooperation. In the future, Cepsa Quimica will supply phenol raw materials to Highsun's global factories (including factories in China and Europe), and at the same time initiate the discussion of the technology and project cooperation of the construction of 400,000 tons of renewable phenol supply in Fuzhou, Fujian, using the new technology of both parties, supporting the development of "green economy" in Fujian Province, and implementing the national sustainable development strategy.

Phenol is the most ideal raw material for caprolactam production. Highsun Holding Group purchases 700,000 tons of phenol from global suppliers every year to provide raw materials for the world's largest caprolactam production base. Spanish Petroleum Company, the largest oil company in Spain, was established in 1929. Its subsidiary Cepsa Quimica is the world's second largest phenol producer with a total phenol production capacity of 850,000 tons. It has the most advanced and environmentally friendly production technology and can be Highsun Holdings. The Group's factories in China and Europe provide sufficient and high-quality raw materials.

As one of the Fujian delegations led by Secretary Yu Weiguo participated in the visit to Spain, Chen Jianlong, chairman of Highsun Holding Group, said that this visit can reach a broad cooperation agreement with Cepsa Quimica on the supply of phenol raw materials and renewable phenol projects and sign a strategy. The letter of intent for cooperation is a major achievement of Highsun. The cooperation with Cepsa Quimica will provide a stable source of raw materials for Hengshen's caprolactam production, ensure that the group provides higher-quality nylon product solutions for global customers, and provide support for the future development and production of renewable materials. The strategic cooperation between Highsun Holding Group and Cepsa Quimica is a typical example of Chinese companies and enterprises from countries along the "Belt and Road Initiative". It is conducive to the deepening and solidification of the "Belt and Road Innitiative" strategic cooperation. Highsun will take this opportunity to work together with more powerful companies in the world to deeply engage in the field of new materials and renewable materials, promote the transformation and upgrading of Highsun with green development, and build a competitive world-class enterprise.

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