Hengyi Petrochemical announced that the board of directors of the company reviewed and passed two related transaction proposals: Zhejiang Hengyi Petrochemical Co., Ltd., a wholly-owned subsidiary of the company, plans to purchase 51% of Shaoxing Keqiao Hengming Chemical Fiber Co., Ltd. held by Fujian Kunyi Investment Partnership in cash, with a final actual transaction price of 1,201 billion yuan; the controlling shareholder Zhejiang Hengyi Group Co., Ltd. and its subsidiaries plan to provide an additional 3 billion yuan in short-term working capital support to the company and its subsidiaries. The annual interest rate is based on the latest one-year loan market quoted interest rate announced at the time of borrowing. The period is 12 months without collateral, pledge or guarantee measures. The financial support bill still needs to be submitted to the company's shareholders' meeting for consideration.

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