Core Viewpoint - The article discusses the establishment of a joint venture between Wankai New Materials and Carbios to build a PET recycling plant in China, utilizing innovative enzymatic technology for sustainable recycling [2][5]. Project Overview - The joint venture will construct the first plant capable of processing 50,000 tons of PET waste annually, located in Haining Qianshan Industrial Zone [3][4]. - The total investment for the project is approximately 1.15 billion euros (around 9.22 billion RMB), with Wankai contributing 70% and Carbios 30% [2][5]. Carbios Technology - Carbios' enzymatic technology allows for the recycling of complex PET waste without solvents, converting it back into its basic components, terephthalic acid (PTA) and ethylene glycol (MEG), achieving 100% recyclability [5][6]. - This technology addresses the challenge of 100% PET recycling and aims to create significant value in the post-consumer PET recycling sector [5][6]. Investment and Funding - The project is expected to be funded through registered capital and bank financing, with capital expenditures estimated at 1.15 billion euros (approximately 9.22 billion RMB) [5][6]. - The registered capital of the joint venture is set at 276.6 million RMB, with Wankai contributing 193.6 million RMB and Carbios contributing approximately 82.99 million RMB [6]. Governance and Management - The joint venture will have a board of directors consisting of three members, with Wankai nominating two and Carbios nominating one [7]. - Wankai is committed to completing its investment in Carbios within six months of the agreement's effectiveness [7][8]. Exclusive Licensing Agreement - Carbios grants the joint venture exclusive rights to its PET depolymerization technology across Asia, with the initial license period lasting three years, extendable based on production capacity increases [8][9]. - The joint venture is responsible for sourcing raw materials and negotiating necessary contracts for plant operations [8][9]. Future Prospects - The collaboration aims to position Wankai as a leader in the recycled PET market, leveraging Carbios' innovative technology to enhance sustainability in the plastics industry [2][5].

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]

Core Viewpoint - Wankai New Materials (301216.SZ) aims to establish a competitive leading position in the recycled PET industry by forming a joint venture with French green technology company Carbios S.A. to promote the industrialization of post-consumer PET recycling [1] Group 1: Joint Venture Details - The joint venture will be registered in China with a total capital of 277 million RMB, where Wankai will contribute 194 million RMB (70%) and Carbios will contribute 82.9884 million RMB (30%) [1] - The joint venture will focus on constructing and operating the first biological enzymatic recycling project for PET, with an annual processing capacity of 50,000 tons of waste [1] Group 2: Investment and Strategic Partnership - The total investment for the recycling project is estimated at 115 million euros, approximately 922 million RMB [1] - Upon meeting specific conditions outlined in the agreement, Wankai will invest an additional 5 million euros in Carbios and secure a board seat [1]