Wave Cyber plans to establish a joint venture company to engage in the research, production, and sales of gas separation membrane products

According to the announcement from Weisaibo (688718.SH), the company plans to jointly invest with Tianjin Zhihui and Shanghai Zhihui to establish "Shanghai Weisaibo Zhihui Membrane Technology Development Co., Ltd." (referred to as "joint venture company") in response to the strategic development needs of the company. The joint venture will focus on the research and development, production, and sales of gas separation membrane products, achieving strategic cooperation and complementary advantages among multiple parties. The registered capital of the joint venture company is 10 million yuan, with the company contributing 5.1 million yuan of its own funds, accounting for 51%; Shanghai Zhihui contributing 1.5 million yuan of its own funds, accounting for 15%; and Tianjin Zhihui contributing intellectual property and professional skills, accounting for 34%. Since the company's senior executive, Mr. Fan Zhifeng, is the controlling shareholder of Shanghai Zhihui, this investment involves related party transactions. Gas membrane separation utilizes the concept of selective permeation through the membrane surface to separate gases from gas mixtures of different diameters. Compared to other gas separation technologies, it has advantages such as low capital costs, long lifespan, and low energy consumption. As an efficient and energy-saving gas separation technology, gas membrane separation is widely used in fields such as oxygen separation, nitrogen recovery, carbon capture, and industrial gas treatment in energy, chemical, medical, and environmental protection sectors. Benefiting from factors such as demand driven by energy and chemicals, global environmental protection policies, industrial upgrading needs, and expansion of application fields, the gas separation membrane market is in a period of rapid development, with the global market size continuously growing, and the Chinese market having enormous potential driven by both policy and industry. The company has been deeply engaged in the high-performance rolled separation membrane field for over 20 years, focusing on the research and development and application of separation membranes, and has built a full-chain innovation system from basic formula research and development to industrial production. It possesses internationally advanced fully automatic coating and film production lines and has completed the research and development and industrialization of various membrane products, with products leading in international positions in niche fields. Tianjin Zhihui relies on the top research platform of the School of Chemical Engineering at Tianjin University, led by Professor Wang Zhi, an authoritative expert in the field of membrane materials in China. This joint venture is beneficial for fully leveraging the advantages accumulated by both parties in technology research and development, market channels, and talent reserves in the membrane separation industry, expanding product application fields and scenarios, and enhancing the company's overall competitive strength