Yip’s Chemical Holdings Limited (SEHK: 0408) (“Yip’s Chemical” or the “Group”), the world’s largest manufacturer of acetate solvents and one of China’s major manufacturers of petrochemical products, has announced that it has made additional investment of RMB30 million in Damai, a car maintenance chain brand in China, increasing its shareholding in the company from 28% to 39%.

Yip’s Chemical Holdings Limited (SEHK: 00408) (“Yip’s Chemical” or the “Group”), the world’s largest manufacturer of acetate solvents and one of China’s major manufacturers of petrochemical products, announced the disposal of factory premises located at Qingpu, Shanghai to 上海重固新雲尚置業有限公司, at a consideration of RMB270 million (equivalent to approximately HK$307 million).

Yip’s Chemical Holdings Limited (SEHK: 00408) (“Yip’s Chemical” or the “Group”), the world’s largest manufacturer of acetate solvents and one of China’s largest manufacturers of petrochemical products, has garnered an impressive array of 21 awards in 2018. These awards recognize not only the Group’s unwavering efforts in business development and operation, corporate governance and environmental protection, but also its commitment to continuous improvement and breakthroughs, to accomplish its mid- to long-term vision of “Towards a Century of Revered Leadership”. Upholding the principle of “From the Community, For the Community”, the Group has also continued to fulfill its social responsibility and give back to society.