Jiangsu Eastern Shenghong subsidiary boosts profit forecast with precious metal deal

Jiangsu Eastern Shenghong announced that its subsidiary, Jiangsu Shenghong Petrochemical Industrial Group Co., Ltd., has partnered with Xuzhou Haotong New Materials Technology Co., Ltd. for the recycling and sale of precious metal waste catalysts. This agreement is expected to increase Jiangsu Eastern Shenghong’s net profit by approximately 460 million yuan in 2025, representing 10% of the last audited net profit, partly due to an anticipated rise in precious metal prices. The agreement was approved during the company’s Ninth Board of Directors’ Twenty-Third Meeting.

The company also held its second extraordinary general meeting for 2025 on December 22, 2025, where shareholders approved several key governance documents. These included revisions to the Articles of Association, the management system for shares held by directors and senior executives, the fundraising management system, the related party transaction system, and the remuneration management system for directors, supervisors, and senior executives. These updates aim to strengthen corporate governance and align with regulatory requirements.