According to the announcement from Hongpai New Material (605366.SH), the company has signed a joint venture agreement with Maitu (Shanghai) Investment Co., Ltd. and MOMENTIVE PERFORMANCE MATERIALS ASIA PACIFIC PTE. LTD. The joint venture company is named "Maitu Hongpai High-tech Materials (Jiangxi) Co., Ltd." The registered capital of the joint venture company is tentatively set at RMB 720 million or its equivalent in USD, of which the company plans to contribute non-monetary assets tentatively valued at RMB 367.2 million or its equivalent in USD, accounting for 51% of the registered capital of the joint venture company. The aforementioned non-monetary asset contribution mainly consists of the valuation of some of the company's assets; Maitu (Shanghai) Investment Co., Ltd. and MOMENTIVE PERFORMANCE MATERIALS ASIA PACIFIC PTE. LTD. plan to contribute cash in RMB or its equivalent in USD, tentatively set at RMB 352.8 million or its equivalent in USD, accounting for a total of 49% of the registered capital of the joint venture company. Among them, Maitu (Shanghai) Investment Co., Ltd.'s contribution to the joint venture is tentatively set at RMB 172.8 million or its equivalent in USD, accounting for 24% of the registered capital of the joint venture company; MOMENTIVE PERFORMANCE MATERIALS ASIA PACIFIC PTE. LTD.'s contribution to the joint venture is tentatively set at RMB 180 million or its equivalent in USD, accounting for 25% of the registered capital of the joint venture company.

It is reported that the company will fully promote the establishment and operation of the joint venture. In order to fully integrate and utilize the company's existing resources, the company aims to achieve a strong alliance through joint ventures and cooperation with internationally leading enterprises in the industry, further improving the process technology level and quality performance of the company's functional silane products, better meeting domestic and international market demands, and expanding the company's brand awareness