According to the Tianyancha App, recently, Sinopec High-end New Materials Co., Ltd. was established, with Yu Changqing as the legal representative, and a registered capital of 380 million RMB. The business scope includes the manufacturing of petroleum products, synthetic materials, plastic products, sales of engineering plastics and synthetic resins, and intellectual property services. Shareholder information shows that the company is held by Sinopec, Guangzhou Industrial Investment Holding Group Co., Ltd., and HENGYUN GROUP with respective shares of 80%, 10%, and 10%