Nanjing Yangzi Synthomer Chemical Ltd. (“YSC”), formerly known as Nanjing Yangzi Eastman Chemical Ltd., was established on November 16, 1998, as a joint venture between Sinopec Yangzi Petrochemical Company Limited (YPCL, a Chinese company) and Eastman Chemical Ltd. (ECL, a US company), each with 50% equity interest. On March 31, 2022, ECL transferred its 50% equity interest in the joint venture to Synthomer Adhesive Technology Limited (SYN, a UK company). From then on, SYN becomes the foreign shareholder of the joint venture. YSC is located on No.1 Yanhe Road, within Nanjing Chemical Industry Park. Its board of directors consists of six directors with three from YPCL and three from SYN, among which the chairman is assigned by YPCL and vice chairman assigned by SYN. Supervisory board consists of two supervisors with one from YPCL and one from SYN. YSC has one general manager, one deputy general manager and four departments—HR & Admin Department, Production and Maintenance Department, Sales Department and Finance Department, among which general manager, marketing manager, production and maintenance manager are assigned by SYN and deputy general manager, HR & Admin manager and financial manager assigned by YPCL. By August 2023, YSC’s total assets have reached RMB 220 million. It now employs 84 people, including 7 with senior professional titles, and 21 with mid-level professional titles.

With the advanced proprietary technology from SYN and pyrolysis C5 gasoline from YPCL, YSC manufactures and sells world-class hydrogenated C5 petroleum resin products. YSC now has a C5 hydrogenated petroleum resin plant with a capacity of 23,400 MT/year which mainly produces 10 kinds of hydrogenated petroleum resin products of Regaltac series, and Regalite series.