Changhong Gaoke announced in the evening of August 16 that the company and Panjin Shengteng intend to sign the Cooperation Agreement on the Establishment of a Joint Venture Company, which will use their own funds or self-financing funds to subscribe RMB 225 million and RMB 275 million in currency respectively. The corresponding company and Panjin Shengteng hold 45% and 55% of the equity of the joint venture company respectively, with a total investment of RMB 500 million. This cooperation is to jointly develop modified alternative materials for photovoltaic POE film and its production process, as well as hydrogenated nitrile rubber (hereinafter referred to as "HNBR") and its production process.
