Hengyi Petrochemical establishes new materials company in Hangzhou.

The Enterprise Check App shows that recently, Hangzhou Yizhijin New Material Co., Ltd. was established with Du Weichen as the legal representative and a registered capital of 50 million yuan. The scope of business includes: synthetic fiber manufacturing; synthetic material manufacturing; high-performance fiber and composite material manufacturing; and new material technology research and development. According to the equity penetration displayed on the Enterprise Check, the company is indirectly wholly-owned by Hengyi Petrochemical.