Bio-Enzymatic Depolymerization of PET: Kaibio (Zhejiang) Biotechnology Co., Ltd. Has Been Established

On December 2, 2025, Wankai New Materials Co., Ltd. convened the 27th meeting of the second Board of Directors and reviewed and approved the Proposal on External Investment to Establish a Joint Venture and Invest in the Construction of a Bio-enzymatic PET Depolymerization Recycling Plant. The parties will establish a joint venture in China, with a tentative registered capital of RMB 276.6 million, of which the Company will contribute RMB 193.6 million in cash, representing 70%, and France’s Carbios will hold 30%.

According to the announcement from Wankai New Materials today, the joint venture has recently completed the business registration procedures and obtained a business license issued by the Haining Market Supervision Administration. The basic information registration is as follows:

1. Name: Kaibiou (Zhejiang) Biotechnology Co., Ltd.

Unified Social Credit Code: 91330481MAKG3EQWXG

Type of enterprise: Limited Liability Company (Foreign Investment, Non-Wholly Owned)

4. Legal Representative: Chu Naibo

5. Registered capital: RMB 276,627,900.00

6. Date of establishment: June 11, 2026

7. Address: Third Floor, Administration Building, No. 15 Wenlan Road, Huangwan Town, Haining City, Jiaxing City, Zhejiang Province

8. Business Scope: General items: Technical services, technical development, technical consulting, technical exchange, technology transfer, technology promotion; Engineering and technical research and experimental development (excluding the development and application of human stem cell and gene diagnosis and treatment technology, and China's rare and unique precious and excellent varieties); R&D of industrial enzyme preparations; R&D of carbon fiber recycling technology; R&D of new materials technology; R&D of bio-based materials technology; R&D of biochemicals; Manufacturing of cellulose fiber raw materials and fibers; Manufacturing of synthetic materials (excluding hazardous chemicals); Manufacturing of ecological environment materials; Manufacturing of bio-based materials; Manufacturing of plastic products; Manufacturing of synthetic fibers; Manufacturing of engineering plastics and synthetic resins; Sales of specialized chemical products (excluding hazardous chemicals); Sales of chemical products (excluding licensed chemical products); Sales of ecological environment materials; Sales of synthetic materials; Sales of bio-based materials; Sales of plastic products; Sales of synthetic fibers; Sales of food-grade plastic packaging containers and tools (excluding projects that require approval according to law, operating activities independently according to business license).