Versalis, a subsidiary of Italy's Eni Group, to licensing technology for a 210 KTY Acrylonitrile Butadiene Styrene (ABS unit) with Eastech Chemical Co., LTD., at Beijing time 08 April 2022. It is the first time that Eni Group cooperate with private enterprise in China on ABS technology.

Eni Group of Italy is the seventh largest oil conglomerate in the world, and its subsidiary Versalis is a global technology leader in the chemical industry. It is also the largest polymer producer in Europe, with a wide range of proprietary technology combinations and experience in research and development, construction, and operation. This is the first time Eni Group has authorized this technology to private enterprises in China, and both sides have reached a consensus to continue to cooperate in various aspects in the chemical industry and establish a long-term and stable strategic partnership.

After nearly a year of negotiations and efforts, this cooperation has finally been facilitated, bringing new opportunities for the development of Yike Chemical, which is of great strategic significance. Compared with the domestic lotion grafting method, Versalis ABS continuous bulk synthesis technology has the advantages of short process flow, low comprehensive cost, and over 90% lower emissions of three wastes. At the same time, the product has low temperature, low residue, stable performance, and good modification performance, which is a true "green" process. As one of the key layout projects of Yike Chemical, upstream can form raw material synergy with other projects, reduce supply costs, and downstream can extend the development of ABS modification and alloy fields, improve product added value, enhance customized and functional comprehensive service capabilities. Starting from this project, we will accelerate the layout of the new materials industry, differentiate the development of petrochemical business, create new business growth points, closely follow the mainstream trend of "low-carbon and green" development, practice the development concept of "becoming the most outstanding green enterprise cluster with innovative capabilities" that Haike Group has always adhered to, and make Yike Chemical a pioneer in China's transformation from a traditional private refining enterprise to a green and environmentally friendly high-tech material production enterprise.

This signing ceremony is a key milestone in the strategic cooperation between Yike Chemical and Versalis, and will continue to promote the formation of deeper cooperation, bringing greater commercial value output to both parties.