Weisab (688718.SH) plans to establish a joint venture to develop, manufacture and sell gas separation membrane products

Zhitong Finance App News, Weicab (688718.SH) issued an announcement. According to the company's strategic development needs, the company plans to jointly fund the establishment of “Shanghai Weisaibo Zhihui Membrane Technology Development Co., Ltd.” (“Joint Venture”) with Tianjin Zhihui and Shanghai Zahui to carry out R&D, production and sales of gas separation membrane products to achieve strategic cooperation and complementary advantages of various parties. The joint venture has a registered capital of 10 million yuan, and the company invested 5.1 million yuan with its own capital, accounting for 51%; Shanghai Zahui invested 1.5 million yuan with its own capital, accounting for 15%; and Tianjin Zhihui invested in shares with intellectual property rights and professional skills, accounting for 34%. Since Mr. Fan Zhifeng, an executive of the company, is the controlling shareholder of Shanghai Zahui, this investment involved related transactions.

Gas membrane separation uses the concept of selective penetration through the membrane surface to separate gases from gas mixtures of different diameters. Compared with other gas separation technologies, it has the advantages of low capital cost, long life, and low energy consumption. As an efficient and energy-saving gas separation technology, gas membrane separation is widely used in energy, chemical, medical, environmental protection and other fields such as oxygen separation, nitrogen recovery, carbon capture, and industrial gas treatment. Thanks to factors such as energy and chemical demand, promotion of global environmental protection policies, demand for industrial upgrading, and expansion of application fields, etc., the gas separation membrane market is undergoing a period of rapid development. The global market size continues to grow, and the Chinese market has great potential driven by both policy and industry.

The company has been deeply involved in the field of high-performance roll separation membranes for more than 20 years, focusing on the development and application of separation membranes, building a full-chain innovation system from basic formulation development to industrial production. It has an internationally advanced fully automatic coating production line, and has completed the development and industrialization of various types of membrane products. The products are in an international leading position in the field of segmentation. Relying on the top research platform of the School of Chemical Engineering of Tianjin University, led by Professor Wang Zhi, an authoritative expert in the field of membrane materials in China, this joint venture is conducive to giving full play to the advantages of technology research and development, market channels, and talent reserves accumulated by the two sides in the membrane separation industry, expanding product application areas and scenarios, and enhancing the company's overall competitive strength.