On February 28, Ningbo Zhetie Jiangning Chemical Co., Ltd. and Ningbo Zhetie Daphoon Chemical Co., Ltd. completed the shareholder change registration with the approval of Zhenhai Market Supervision Bureau. The two companies become wholly-owned subsidiaries of Sinopec NZRCC as new members of Zhenhai base, and are incorporated into the "integrated" management of ZRCC.

At the handover ceremony, ZRCC CEO Mo Dingge, granted the business licenses to the executive director of Daphoon Chemical and Jiangning Chemical. Mo Dingge stated that the successful completion of equity transfer could be attributed to the deepening of central-local cooperation, the realization of resource integration and all-win situation, and it is a successful attempt to explore a new way to "strengthen, optimize and expand state-owned enterprises".