News
11 Aug 2023
Press Release
The Company intends to re-establish the purchase price pricing formula for ethylene oxide
1.Date of amendment to the contract or commitment:2023/08/11
2.Counterparty of the contract or commitment:China Man-Made Fiber Co.
3.Relationship with the Company:Parent company of the Company
4.Reason for amendment:At the request of China Man-Made Fiber (Holdings) Co
5.Content amended:Re-establishment of the Purchase Price Formula for
Ethylene Oxide
6.Effect on the Company's finances or business:
As a result, the Company's rawmaterial costs will increase and the adjusted
profits will be affected, and the Company will adjust its sales strategy
and direction. We will adjust our sales strategy and direction.
7.Any other matters that need to be specified(the information
 disclosure also meets the requirements of Article 7, subparagraph 8
 of the Securities and Exchange Act Enforcement Rules, which brings
 forth a significant impact on shareholders rights or the price of
 the securities on public companies.):In response to a request from
China Man-Made Fiber Corporation,the Company and China Man-Made Fiber
Corporation renegotiated the purchase contract for ethylene oxide,
and the new pricing formula was approved by the boards of directors of
both parties and became effective retroactively from August 1, 2023.
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