On June 1st, Shanghai Jinshan Petrochemical Carbon Fiber Corporation Limited, a wholly-owned subsidiary of SPC, officially completed its industrial and commercial registration and obtained its business license. The establishment of the company is the latest measure to promote the healthy and rapid development of carbon fiber new materials business after the founding of Advanced Materials Innovation Research Institute of SPC, the investment in constructing the 24,000 tons/year precursor, the 12,000 tons/year 48k large-tow carbon fiber, and the 100-ton level high performance carbon fiber units. Besides, the establishment of the company is the latest measures that are taken to promote the healthy and rapid development of the carbon fiber novel material business, with the goal of tackling key problems and industrialization of carbon fiber technology.

Shanghai Jinshan Petrochemical Carbon Fiber Corporation Limited will mainly focus on the cooperative research and production of the new carbon fiber materials and downstream composite materials, and will carry out market operation and after-sales technical service of carbon fiber and its products, etc.. Through adopting strategic management mode of "Division + Company", the company will establish market management mechanism and innovative management mode to improve the business vitality and core competitiveness of enterprises. Through the optimization and integration of internal business resources, it is expected that the company will gradually be built into a carbon fiber professional company with core quality assets and integration of production, marketing and research, promoting the transformation and development of the new material business of SPC.