CHINA SANJIANG (02198) Announces Naphtha Purchase Agreement with Blue Whale Bioenergy

Stock News04-02

CHINA SANJIANG (02198) has announced that on April 2, 2026 (after trading hours), Sanjiang Chemical (an indirect wholly-owned subsidiary of the Company) entered into a naphtha purchase agreement with Blue Whale Bioenergy. The agreement is set for a term of approximately nine months, ending on December 31, 2026.

Following the commencement of commercial operations for the Group's Phase VI ethylene oxide/ethylene glycol production facility, which has an annual capacity of 1 million metric tons, and its supporting upstream naphtha/ethane/propane—ethylene/propylene production facilities, the Group's overall annual production capacity has increased by approximately 80%. Naphtha is required as one of the raw materials for the Group's production facilities, specifically the Phase VI ethylene oxide/ethylene glycol plant and its associated upstream facilities.

The naphtha purchase agreement will be established on a non-exclusive basis, enabling the Group to secure an additional source of naphtha supply. This move is intended to further ensure a stable supply of naphtha for its production processes. The Directors (including independent non-executive directors) consider the terms of the naphtha purchase agreement, which were negotiated fairly between Sanjiang Chemical and Blue Whale Bioenergy, along with the corresponding annual caps, to be fair and reasonable. They believe the agreement is entered into under normal commercial terms as part of the Group’s ordinary and daily business operations and is in the overall interests of the Company and its shareholders.

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