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In March 2020, the State Council approved the "Several Measures to Support the Open Development of the Whole Oil and Gas Industry Chain in the China (Zhejiang) Pilot Free Trade Zone", supporting the Zhejiang Pilot Free Trade Zone to carry out in-depth differentiated exploration, promote the open development of the entire oil and gas industry chain, promote reform, development and innovation through opening-up, and build the Zhejiang Pilot Free Trade Zone into a new highland for reform and opening up in the new era.

National strategy, Zhoushan practice. Zhoushan Green Petrochemical Base, which carries the national strategy, is located in Yushan Island, Zhoushan, with an annual output of 40 million tons of refining and chemical integration projects, with a total investment of 173 billion yuan, which is currently the world's largest single industrial project. According to the "14th Five-Year Plan" for the development of the marine economy in Zhejiang Province, the province will form two trillion-level marine industrial clusters supported by green petrochemical industry chain and Lingang advanced equipment manufacturing industry, and will continue to promote the coordinated development of Zhoushan's green petrochemical industry, form a complete industrial chain from petroleum refining to basic chemical raw materials, new chemical materials and high-end professional chemicals, and jointly build and share a world-class green petrochemical base. As an important pole in the vertical industrial chain of the cluster, Zhejiang Yisu will usher in huge development opportunities.

Zhejiang Yisu is located in Zhoushan Marine Industry Cluster, adjacent to the East China Sea and close to the Yangtze River estuary, with good resources and location advantages. At present, the polystyrene project with an annual output of 1 million tons is under construction, covering an area of 200 acres, and will become the world's largest polystyrene monomer production plant after completion and operation, with an annual output value of more than 12 billion yuan after reaching production. The company's core products are polystyrene (PS), including general-purpose polystyrene (GPPS) and high-impact polystyrene (HIPS). As one of the five general plastics, polystyrene can be widely used in home appliances, electronics, medical, automobiles, packaging containers, building insulation materials and other industries.

In 2021, China's polystyrene import volume will be more than 1.2 million tons, and China will still be the world's largest consumer of polystyrene in the next five years, with broad market prospects. Zhejiang Yisu project adopts the world's most advanced polystyrene production process - continuous bulk polymerization method, and at the same time introduces international advanced equipment such as Shimadzu of Japan to ensure excellent product quality, which will effectively make up for the huge demand gap in the domestic and foreign markets.

Zhoushan green petrochemical industry chain is an important measure and effective carrier to implement the national strategies such as the construction of the "Belt and Road" and the development of the Yangtze River Economic Belt, and to promote the construction of the Zhoushan Archipelago New Area. As an important pole of the vertical chain of green petrochemical industry clusters, Zhejiang Yisu has been highly concerned by provincial and municipal leaders from the beginning of the project construction. Wen Wen, Secretary of the Provincial Commission for Discipline Inspection, Yu Donglai, former Secretary of the Zhoushan Municipal Party Committee, Xu Renbiao, Deputy Secretary of the Municipal Party Committee and Acting Mayor, and other leaders have visited Zhejiang Yisu for many times and highly affirmed the development direction of Zhejiang Yisu.

With the advantages of the listing platform and strong resource integration ability of the parent company Guoen Co., Ltd. (SZ: 002768), Zhejiang Yisu will take the "vertical integration" of the industry as the engine, uphold the product direction of "high-end, green and intelligent", actively introduce experienced R&D personnel, set up a R&D team, and equip a full set of world-class R&D equipment to ensure the high-quality output of products and provide strong support for the development of high-end new material applications.

Based on the world-class petrochemical plant, Zhejiang Yisu will be driven by original innovation and assisted by imitation of secondary innovation, actively drive the coordinated development of upstream and downstream enterprises, and contribute to the release of the magnetic field effect of the whole oil and gas industry in Zhoushan and the construction of a new pattern of petrochemical industry development of "one core and four wings"!