Sinochem (688480.SH) plans to establish a subsidiary to develop a new business in high-purity sodium sulfide.

Financial news app, Zhitong Finance and Economics, reported that Sains (688480.SH) has announced its plan to invest in the establishment of a subsidiary, Tongling Longrui Chemical Co., Ltd., to develop a high-purity sodium sulfide project and expand into new businesses. The annual production capacity of Longrui Chemical's 60,000 tons high-purity sodium sulfide project is expected to require an investment of 210 million yuan, with the company contributing 65% of the equity.