Jiangxi Hungpai New Material announced that the company, Polapat, and Vararat jointly established a joint venture company in Thailand with a registered capital of 0.6 million US dollars. The company contributed 0.294 million US dollars, accounting for 49% of the joint venture company's equity; Polapat contributed 0.3 million US dollars, accounting for 50% of the joint venture company's equity; Vararat contributed 6000 US dollars, accounting for 1% of the joint venture company's equity. The joint venture company is not included in the company's consolidated financial statements and aims to jointly operate and expand the business of silane coupling agents in Thailand.