On January 4, 2026, Wang Zhengrong, Chairman and Party Committee Secretary of Kunlun Trust, Jiang Yujie, General Manager and Deputy Party Committee Secretary, Xuan Liyong, Party Committee Member, Deputy General Manager, and General Counsel, Yan Zhiyong, Party Committee Member and Deputy General Manager, and Fan Jie, Party Committee Member and Chief Accountant, held talks and signed a cooperation framework agreement with a visiting delegation led by Ma Zongli, Executive Director and Party Committee Secretary of PetroChina Lubricant Company (hereinafter referred to as "Lubricant Company"), and Wang Wei, Party Committee Member and Deputy General Manager.
During the talks, both parties listened to a report on the cooperative development process and achievements, wherein Kunlun Trust's South China Regional Business Headquarters assisted Lubricant Company's South China Branch in winning a bid for a multi-billion-yuan lubricant project in the domestic market of BYD.
This successful bid not only made a significant contribution to the Kunlun Lubricant brand building but also marked a qualitative leap in the cooperative status between Lubricant Company and BYD, as it became a core supplier of production materials for the first time.
Both parties unanimously agreed that this cooperation between Kunlun Trust and Lubricant Company is a model example of the integration of industry and finance within Petrochina Company Limited, fully validating the practical value of the "Trust + SPV" model in industrial scenarios.
The successful joint bid is the result of full mutual trust and assistance between the two parties, accumulating a benchmark case for subsequently expanding financial business within the automotive industry chain and will further deepen synergistic linkages with other enterprises within the Petrochina Company Limited system.
During the talks, the two sides also agreed to establish a dedicated task force to explore cooperation opportunities in various areas such as future overseas market expansion, equity investments, customer resource sharing, "reduction of two funds," and brand building, aiming to achieve a higher level of collaborative development.
Following the exchange meeting, the two parties signed a cooperation framework agreement.
Responsible personnel from Kunlun Trust's Industrial-Finance (Debt) Business Management Department, Equity Business Management Department, and South China Regional Business Headquarters attended the meeting; relevant personnel from Lubricant Company's Marketing Department, Sales Department, General Office, and South China Branch were also present.
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