Yip's first butyl acrylate production line goes into production at the end of the year

Yip's chemical vice president, Ye Zixuan, said that currently, Rongji accounted for 59% of core business, coatings accounted for 37 (paint online), and the rest was lube oil business. He pointed out that there is an oversupply in the solvent industry, and competition may become fiercer in the future.

He Shihao, Executive Director and Chief Financial Officer, also stated that he expects the lubricants business to recover, and the Group's gross profit margin has also returned to a reasonable level.

Yip said that the new product, butyl acrylate, is under construction and the current market price is 12,000 yuan per ton. It is estimated that the first production line can produce 80,000 tons of production capacity, and the investment amount is about 100 million yuan, which is expected to be put into operation by the end of this year.