On April 15th and 16th, Hainan Rubber and Sailun Tire issued announcements of signing the strategic cooperation agreement one after another. Hainan Rubber intends to participate in the subscription of Sailun Tire's non-public offering of no more than 351 million shares in 2020 and become a strategic investor of Sailun Tire. The two parties will take advantage of NR's upstream production and downstream product market and technology to conduct multi-field cooperation.
In terms of business cooperation, we will increase cooperation in NR processing and procurement on the premise of ensuring quality, and actively promote domestic NR to replace the import. At the same time, in order to make full use of Qingdao's geographical advantages, the two parties will jointly establish a commodity trading center with relevant organizations, and take rubber as the main trading category.
In terms of technology research and development, we will cooperate in NR processing, performance improvement, application research and development, establish joint laboratories, and conduct in-depth cooperation in the field of "industrial Internet" to study the development strategy and application innovation of industrial Internet in the rubber industry.
In terms of capital cooperation, it will take the principle of "risk sharing and benefit sharing" as the principle, through its own or associated partners to jointly set up investment funds, conduct joint R&D and joint investment in emerging industries such as intelligent manufacturing, rubber new materials, etc., and through equity investment, merger and acquisition, etc., carry out resource integration to maximize the interests of listed companies.
The parties agreed that the agreement shall come into force on the date of signing and shall be valid for 3 years. After the expiration of the cooperation agreement, it can be extended or a new cooperation agreement can be signed after negotiation by both parties.
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