[Weekly New Materials Plastic Update] Lianlon And Wanhua Chemical Deepen Cooperation; Yulong Petrochemical’s $100-Billion Industrial Chain Extension Project Under Review

Strong Alliance, Win-Win Cooperation | Lianlong and Wanhua Chemical Sign the Third Strategic Cooperation Agreement

On February 27, 2026, Lianrong and Wanhua Chemical officially signed the third phase of their strategic cooperation agreement. This marks the deepening and broadening of their strategic partnership on the basis of the successful cooperation in the first two phases.

Vice President Li Sai from Lianlong, General Manager of Greater China Region Bi Hongyan, Director of Application Technology Luo Hai, and Director of Supply Chain Yao Ying, along with other senior executives of the company, visited Wanhua Chemical. They attended the signing ceremony together with Mr. Liu Mingzhong, General Manager of the Procurement Department of Wanhua Chemical, Ms. Tang Peng, Deputy General Manager of the Procurement Department and BC Vice President, Mr. Zheng Tianlong, Assistant General Manager of the Petrochemical Sales Company, and Mr. Yuan Qichao, Procurement Manager of Fine Chemicals in the Procurement Department.

Recently, Jushi Chemical, a leader in the flame-retardant modified plastics segment, released its 2025 annual earnings preview. On one hand, it reported a significant 49.78% year-over-year reduction in losses, signaling marginal improvement in its core business; on the other hand, it still recorded a full-year net loss of RMB 119 million, with unresolved issues such as shrinking net assets and drag from a single business line. As a company listed on the STAR Market, Jushi Chemical continues to face an arduous path toward profitability recovery.

Profits Plunge 41.7%: Cobell Faces Pressure in 2025, Short-Term Pain Conceals Long-Term Breakthrough Potential

In 2025, the domestic modified plastics and functional additives industry remained in a period of weak demand and intensified competition. As a specialized "Specialized, Precise, Unique, and New" enterprise focusing on polymer modification materials, Hefei Kebaili New Materials Co., Ltd. released its 2025 annual report data showing that the company's revenue remained basically flat, while both net profit attributable to shareholders and adjusted net profit saw significant declines, becoming the most prominent feature of the company's operations throughout the year. Taking the profit decline as the core perspective to review the annual performance can not only clearly reveal the industry-wide pressures, but also accurately understand the balance between Kebaili's short-term pain and long-term strategies.

Meteor Creative Inc., a manufacturer that produces molds for automotive and original equipment manufacturer (OEM) performance equipment manufacturers, recently announced the permanent closure of its manufacturing facility in Tipp City, Ohio.

According to the Worker Adjustment and Retraining Notification (WARN) submitted to the Ohio Department of Jobs and Family Services, the closure scheduled for April 24, 2026, will affect 66 employees.

According to SPC Infomedia on March 3, Sumitomo Chemical announced on March 2 that it will implement the following organizational restructuring starting April 1, 2026.

Headquarters - To strengthen the collaboration of the company's R&D system and enhance the research functions of the company, Sumitomo Chemical reorganized the Research Planning Coordination Department into two new departments: the Research Planning Department, which is responsible for the planning and coordination of technology and R&D across the company; and the Corporate Research Planning Coordination Department, which is responsible for the promotion and management of corporate research projects.

Taokaenoi Food & Marketing Public Company Limited (TKN), SCG Chemicals (SCGC), and Dow Thailand Group jointly announced the signing of a landmark Memorandum of Understanding (MoU) to drive a transformation in the snack industry through the "Advanced Recycling Technology for Food-Grade Recyclable Packaging" project.

Entering 2026, the home appliance industry has launched a new round of strategic competition in the new energy sector. Midea Group’s additional investment of RMB 1.65 billion in Hiconics New Energy stands out as the most iconic move in this transformation wave. On February 28, Hiconics New Energy announced its private placement plan, under which Midea Group intends to subscribe to 288 million shares to strengthen its controlling stake. The raised funds will be allocated to five core projects: high-voltage variable-frequency drives, photovoltaic inverters, residential energy storage systems, and others. This move not only consolidates Midea’s strategic control in the new energy sector but also signifies the comprehensive transformation of this home appliance giant into a smart energy operator.

On March 5, Wang Zhijie, a deputy to the National People’s Congress and Party Secretary and Director of the Chongqing Municipal Commission of Economy and Information Technology, presented a selection of “Chongqing treasures” at the Two Sessions this year, including a model of the Huawei AITO M9, the “Xiaotian” intelligent quadruped robot, a dual-screen AI-powered computer, an industrial drone no larger than a palm, and the world’s first hybrid-powered unmanned cargo aircraft.

Sony Corporation (“Sony”) and TCL Electronics Holdings Limited (“TCL”) have signed a memorandum of intent, agreeing to further discuss a strategic partnership in the field of home entertainment.

In terms of core performance, full-year sales reached €9.068 billion, down 5% year-over-year; EBITDA stood at €1.251 billion, a decline of 18.3% year-over-year, though the EBITDA margin of 13.8% remained within the previously guided range. Profitability came under greater pressure, with adjusted net income falling sharply by 46.8% year-over-year to €328 million, and net income plummeting 82.6% year-over-year to just €62 million, reflecting a significant decline in performance.

Tens of Billions in Investment! Yulong Petrochemical's Industrial Chain Extension Project Supporting Engineering Review

On March 3, the Ministry of Ecology and Environment released a public notice regarding the proposed review of the environmental impact assessment documents for the reclamation project of Shandong Yulong Petrochemical Co., Ltd.'s downstream petrochemical and extended industrial chain project.

This project is located in the western sea area under the jurisdiction of Longkou City, Yantai City, Shandong Province, belonging to the Shandong Yulong Petrochemical Industrial Park Yulong Island 5.# Island AreaIn order to construct the downstream deep-processing production units and supporting facilities for Phase I of the Yulong Petrochemical Refining and Chemical Integration Project, it is proposed to proceed with the following:# Land reclamation by island fillingThe reclamation area is approximately 639.2843 hectares. The content of this environmental assessment project is the reclamation project, and does not include the construction content of onshore projects such as the downstream and extended industrial chain projects after the formation of the land.

On March 2, Jiangsu Dongke New Materials Co., Ltd. announced the public notice for its project to construct a production line with an annual capacity of 2 million meters of Anta bio-based film.

The project is located at No. 3 Poyang Lake Road, Suxitong Science and Technology Industrial Park, Nantong City, Jiangsu Province, leasing a 3,000-square-meter factory building from Jiangsu Longtai Nano Materials Technology Co., Ltd. The project will procure key raw and auxiliary materials including bio-based polyurethane resin, DMF, surfactants, etc., and utilize the principle of non-solvent induced phase separation for pore formation, based on phase separation pore-forming technology and micro-pore structure design. It will install major production equipment such as bio-based membrane coating, aqueous processing, and drying systems, achieving an annual production capacity of 2 million meters of bio-based membranes upon completion.

Recently, Party Secretary Zhi Xianwei visited Cathay (Wusu) Biomaterials (Technology) Co., Ltd. and held a discussion with Liu Xiucan, Chairman and CEO of Shanghai Cathay Biotechnology Co., Ltd., and other company executives.

Zhi Xianwei visited Kaisa (Wusu) Biomaterials (Technology) Co., Ltd. to inspect the construction progress of the new 20,000-ton long-chain dicarboxylic acid production line. He gained detailed insights into product applications, technological R&D, and market expansion, and held face-to-face discussions with Liu Xiucain, Chairman and CEO of Shanghai Kaisa Bio-Technology Co., Ltd., and other company executives to coordinate solutions for difficulties and issues encountered during the project’s advancement. He encouraged the company to maintain confidence in its development, continuously increase investment in scientific and technological R&D, focus on the emerging field of bio-manufacturing, and strive to gain a competitive edge through core technology innovation and product iteration, thereby providing strong momentum for building Xinjiang into a hub for synthetic biology and bio-manufacturing industries.

On March 2, 2026, Xinxiang Chemical Fiber announced that to fully utilize the company's spandex fiber production resources, optimize the product structure, increase the production scale of spandex fiber, enhance the market competitiveness of the company's products, and improve the company's economic benefits, the company plans to implement the "Phase II Project of Annual Production of 100,000 Tons of Functional Spandex Fiber."

The Phase II Project of Xinxiang Chemical Fiber Co., Ltd.'s 100,000-ton-per-year Functional Spandex Fiber Project will produce ultra-fine denier spandex fiber with an annual capacity of 50,000 tons. The project site is located in the Xinxiang National Economic and Technological Development Zone. The total investment for this phase is approximately RMB 1.05 billion. The company will raise funds through various means, including bank loans, depending on actual circumstances. Construction is scheduled to commence in the third quarter of 2026, with a construction period of 14 months.

On the morning of February 26, the Butanol Optimization and Safety Improvement Project of Bohai Huayi Chemical Company officially introduced raw materials such as propylene into the production system, successfully started the trial run, and entered the trial operation phase.

This project is a key initiative of Bohua Yongli Chemical Company aimed at optimizing its industrial structure, enhancing inherent safety, strengthening green, low-carbon practices, and promoting lean production. Since commencement of construction, under the meticulous guidance of leaders at all levels, the concerted efforts of all participating construction entities, and the round-the-clock dedication of all staff and workers, all construction and commissioning tasks have been completed to high standards.

On February 27, 2026, during a conference call with analysts, Dr. Markus Kamieth, Chairman of the Board of Executive Directors of BASF Group, stated while discussing the company’s Q4 and full-year 2025 results that BASF would “continue—and even accelerate—its cost-cutting program” in 2026–2027, including reducing costs through layoffs.

The layoff of the digital services division is part of BASF's overall plan to streamline the business services and digital services divisions. BASF stated that, according to the plan, the digital services division will "significantly reduce" its workforce.

Pearl Group Innovation Upgrade Plan: Converting Discarded PET Bottles into High-Performance Environmental Insulation Materials

Pearl Group, a leading company in the global polyurethane systems field, has recently launched a new upgrade and recycling program, reusing PET plastic bottles in its product systems. The company reincorporates crushed PET plastic bottles into the polyester production process, reusing plastic waste to create high-end insulation materials with superior environmental performance. After the full implementation of the project, Pearl Group plans to recycle the equivalent of 420 million plastic bottles annually. The first commercial batches have been successfully delivered and are being promoted across the entire business.

Robot manufacturers focus on precision, reliability, and flexibility in material selection to ensure that robots have stable and comprehensive performance and can safely interact with humans. Engineering polymers, especially thermoplastic elastomers (TPEs), are increasingly being used in the robotics field due to their high strength and excellent properties.

KRAIBURG TPE is a global TPE manufacturer providing customized solutions for multiple industries, including robotics, meeting the top-tier mechanical performance requirements of advanced robotic systems.

As an alternative to petrochemical-based plastics, Italian innovative SME Krill Design is dedicated to developing bio-based materials using waste from the food industry.

This material is marketed under the brand name ReKrill and is manufactured using a patented thermo-mechanical compounding process from organic waste materials such as citrus peels, hazelnut shells, coffee grounds, and fruit pits. According to the manufacturer, the material can be processed into finished products via injection molding, extrusion blow molding, and 3D printing.

Turning Waste into Treasure: DOMO Chemical's Recycled Polyamide Empowers a Low-Carbon Future

In the global wave toward a circular economy, DOMO continues to innovate by launching its chemical recycling solution for polyamide—TECHNYL® 4EARTH®—which transforms post-industrial (PIR) and post-consumer (PCR) waste into high-performance engineering materials, offering industries truly sustainable and reliable material options. Leveraging advanced depolymerization technology, DOMO breaks down discarded polyamide 6 (PA6) products into monomers, which are then repolymerized into virgin-grade PA6 engineering plastics. This process overcomes the limitations of conventional mechanical recycling, enabling closed-loop recycling of waste, with final products matching the performance of virgin materials—truly realizing “from waste to high-quality recycled material.”

Adidas launches new mass-produced 3D printed sports shoe CLIMACOOL LACED

Adidas recently released the all-new CLIMACOOL LACED sneakers, featuring an all-white color scheme, with signature white stripes and laces. This sneaker is the latest result of the brand's new shoe-making process, boasting enhanced 360° breathability, elevating breathability to a new level. This 3D-printed sneaker was first released in a limited quantity in 2024 and is now fully available, offering a wide range of choices for those seeking ultimate comfort in their everyday, off-the-field wear.

Weight Reduced by 25%! Colgate-Palmolive Develops Revolutionary HDPE Bottle Technology

Colgate-Palmolive, Polyplastics (Polyplastics Co., Ltd.), and PTI have jointly introduced an innovative process for producing HDPE bottles, which is claimed to reduce bottle weight and production cycle by 25% each. The new technology adopts the injection stretch blow molding (ISBM) process commonly used for PET bottles, to produce lightweight, thin-walled HDPE containers that can withstand hot filling. The three companies stated that adding a second component—TOPAS COC, an ethylene-based copolymer produced by Polyplastics—significantly broadens the processing window of HDPE, making injection stretch blow molding (ISBM) practical and efficient, while the resulting containers remain recyclable.

Leading global polyurethane systems company Pearl Group has recently launched a new upcycling initiative, integrating recycled PET plastic bottles into its product line. By incorporating shredded PET plastic bottles into the polyester production process, the company is reusing plastic waste to create high-end insulation materials with superior environmental performance. After full implementation of the project, Pearl Group plans to recycle the equivalent of 420 million plastic bottles annually. The first commercial batches have been successfully delivered and are being rolled out across the entire business.