Core Viewpoint - The company Wankai New Materials has signed an agreement with French company Carbios to establish a joint venture in China for a biocatalytic PET recycling project, with a total investment of approximately 922 million yuan [1] Group 1: Joint Venture Details - The joint venture will focus on a project that processes 50,000 tons of waste annually [1] - Wankai New Materials will contribute 70% of the investment, while Carbios will contribute 30% [1] - The project aims to promote the industrialization of post-consumer PET recycling [1] Group 2: Strategic Implications - Carbios is recognized as one of the most innovative bioplastics technology companies in France and a leader in biocatalytic plastic recycling technology [1] - Wankai New Materials plans to increase its investment in Carbios to secure a seat on its board [1] - The initiative is expected to establish Wankai New Materials' competitive advantage in the recycled PET sector [1]