On September 7th, Hubei Fluorosilicone Yicheng New Materials Co., Ltd. was established, with its business scope encompassing general projects such as the manufacture and sales of specialized chemical products (excluding hazardous chemicals), the manufacture and sales of electronic special materials, among others. It is understood that the company was jointly invested and established by Duofudo and Yihua Group, with Duofudo holding 51% of the shares and Hubei Yihua holding the remaining 49%.

On June 17th of this year, Yihua Group announced that it had signed a Framework Cooperation Agreement on the Construction of the Duofudo-Yihua Central China Fluorosilicone Industrial Park Project with the Yichang Hi-Tech Industrial Development Zone Management Committee and Duofudo in Yichang City, Hubei Province. The three parties agreed to establish a long-term, close, and pragmatic cooperation relationship, strengthening the coordination of upstream and downstream of the fluorosilicone industry chain and promoting the construction of the Duofudo-Yihua Central China Fluorosilicone Industrial Park project.

The announcement stated that this project relies on Duofudo′s technological and market advantages, as well as Yihua Group′s production capacity and cost advantages in basic chemicals such as phosphorus, chlorine, fluorine, and coal. It proposes to build the Duofudo-Yihua Central China Fluorosilicone Industrial Park Project, utilizing the by-product fluorosilicic acid from wet-process phosphoric acid production to produce anhydrous hydrogen fluoride. Following the model of extending and complementing the industrial chain and coupling development, the project will prioritize the development of downstream fluorosilicone materials and electronic chemicals, thereby further enhancing the company′s competitive advantage in related industries.