China Risun and Jilin Connell Group Establish Strategic Partnership

(Hong Kong, October, 16 2023)– China Risun Group Limited (“China Risun”, or the “Group”, stock code: 1907.HK), a leading global integrated coke, coking chemicals and refined chemicals producer and supplier and relevant operation management services provider in China, and Jilin Connell Group signed a cooperation agreement in Jilin City to establish a strategic partnership. According to the agreement, Jilin Municipal Government is responsible for attracting business and investment and introducing China Risun’s chemical management team to participate in the resumption of production of Jilin Connell Group’s aniline plant, thus activating its chemical industry chain.

Hu Bin, Secretary of the Jilin Municipal Party Committee; Yang Xuegang, Chairman of China Risun; and Song Zhiping, Chairman of Jilin Connell Group, attended the agreement signing ceremony. Secretary Hu Bin and Chairman Yang Xuegang made speeches, while Chairman Song Zhiping and Connell General Manager Pan Jiuhai signed the agreement on behalf of both parties. Cui Zhigang, Vice Mayor of Jilin Municipal Government, presided over the agreement signing ceremony and gave an overview of the situation in Jilin City. Zhang Yingwei, Vice President of China Risun, gave a brief introduction to the Group.

Risun Group integrates five business segments including coke, chemical, related operation and management, trading as well as hydrogen energy. The Group had total assets of RMB52.82 billion and sales revenue of RMB43.139 billion for the year ended 31 December 2022. Jilin Connell Group is a large enterprise engaged in chemicals, equipment manufacturing, pharmaceuticals, logistics, etc., with an annual production capacity of 480,000 tonnes of nitrobenzene, 300,000 tonnes of aniline, 370,000 tonnes of nitric acid and 80,000 tonnes of synthetic ammonia, as well as coal-to-synthetic gas, air separation and other production facilities. The Group’s total assets and annual output value have exceeded RMB10 billion.

This cooperation is based on the synergy of the production lines and industrial chains of the two parties. Jilin City is known as the cradle of China's chemical industry and the “Chemical City”, and has a solid foundation and sufficient talent in the chemical industry. It is believed that through strong cooperation and complementary strengths of both parties, mutual benefits and common development will be achieved.