On August 8th, the signing ceremony of the 40k/a tons of High-End Packaging New Materials Project (hereinafter referred to as "EAA") which is jointly built by STL and SK Geo Centric was held in Lianyungang, which marked the official landing of China's first EAA production base.

Secretary of Lianyungang Municipal Committee, Mr. Ma Shiguang, CEO of SK Geo Centric, Mr. Luo Gengxiu, SVP Mr. Zhang Nanxun, VP Ms. Cai Lianchun, Chairman of STL, Mr. Yang Weidong, VP Mr. Zhu Xiaodong, and Mr. Shen Xiaowei attended the signing ceremony.

At the conference, Ms. Cai Lianchun and Mr. Shen Xiaowei signed the joint venture contract of EAA Project representing SK Geo Centric and STL respectively. The participants witnessed the signing.

EAA Project was the first cooperation project between STL and SK Geo Centric with great significance. Both sides were highly compatible and complementary in terms of development strategy, business growth, and operating philosophy. According to the investment cooperation contract, SK Geo Centric and STL invested 60% and 40% respectively to set up a joint venture company to build a 40K t/a EAA production base in Xuwei District, Lianyungang, covering an area of nearly 66K m2, with an investment scale of about 1.64b RMB. The Project relied on the stable raw materials from the integration of the STL industrial chain; and produced EAA products through the advanced processing technology and operating experience of SK Geo Centric.

As one of China's Top 500 companies, STL is always committed to basing on the integration of light hydrocarbon, building the top-ranking low-carbon chemical new materials science and technology company, and accelerating the deployment of new energy materials, new polymer materials, and functional chemicals. This cooperation would further promote the industrial structure of STL, strengthen, extend and complement the industrial chain, enhance the company's scale advantage and market competitiveness, and contribute to high-quality development.

Chairman and President of STL, Mr. Yang Weidong said that, through this cooperation, STL and SK geo centric joined together to expand the new materials business and built a more complete green high value-added new material system. In the future, both sides would establish deeper and more comprehensive cooperation in the fields of new materials, new energy, and new technologies, accelerating the layout of green products with high value-added, and better boosting the development of regional economies.

EAA is a high-value-added chemical material with high technical barriers, which can effectively bond metal and plastic, paper, plastic or other different substances. Moreover, its excellent durability, transparency, and cohesiveness make it widely used in the packaging of food and drugs. In addition, it can also improve battery stability when used in electric vehicle battery electrodes and diaphragms, improve sealing and durability when used in photovoltaics, and greatly prolong the preservation time of food when used for vacuum packing of meat. Since its wide range of applications, the product demand shows a further increase trend, favored in many fields. At present, EAA in China solely depends on imports. Since it was put into operation, the domestic technology blank can be effectively filled.