Group 1 - Zhejiang Hengyi Group's subsidiary, Hengyi Petrochemical Research Institute, signed a cooperation agreement with Donghua Engineering Technology Co., Ltd. to develop "chemical recycling technology for waste textiles" [2][4] - The collaboration focuses on the joint development of "chemical recycling and regeneration technology for waste textiles" and "deep processing technology for waste textile recycling" [4] - Hengyi Group's new subsidiary, Hubei Hengyi Green New Materials Co., Ltd., is advancing a demonstration project with an annual capacity of 300,000 tons of recycled new materials, which is part of the group's larger plan for a million-ton green new materials layout [4] Group 2 - The partnership aims to accelerate the transformation of research results and demonstration applications, creating a comprehensive solution that covers recycling and high-value utilization [4] - The strategic approach of Hengyi Group emphasizes simultaneous progress in "technology research and development" and "industrial implementation," aiming to establish a closed-loop industrial chain from recycling technology to end products [4]