Rongsheng Petro Chemical (002493.SZ): Signed Project Development Agreement with Saudi Basic Industries Corporation.

Rongsheng Petro Chemical (002493.SZ) announced on July 16, 2026 that, in order to further promote the construction of the Jin Tang New Materials Project (referred to as the "new project") of its wholly-owned subsidiary Rongsheng New Materials (Zhoushan) Co., Ltd. (referred to as "Rongsheng New Materials"), the company and Rongsheng New Materials intend to sign a Project Development Agreement on the new project with Saudi Basic Industries Corporation (SABIC). According to the agreement, the company and SABIC are evaluating the potential investment of SABIC holding no less than 30% and no more than 50% of the equity of Rongsheng New Materials for the purpose of the new project. The signing of the Project Development Agreement will help the company collaborate with top international petrochemical giants, accelerate project implementation, and optimize capital structure. By introducing advanced production processes and core technology systems, the company will enhance its international cooperation level and overall competitiveness, in line with the company's long-term development strategy and industrial layout plan.