In September 2021, Saint-Gobain, leader of global light and sustainable buildings industry, and Keshun officially signed an investment agreement with the development zone in Liangjiang New District, Chongqin to jointly launch their joint venture--Saint-Gobain Keshun High-Tech & New Materials Co., Ltd. ("Company") in the district. As an important base for the production and R&D of high-performance and environment-friendly materials in southwest China, the Company will use green manufacturing and innovative R&D to boost the development of the new materials industry and the "Chain Leader System" in the district.

Duan Chenggang, member of the Standing Committee of Chongqing Municipal Party Committee and secretary of the Party Work Committee ("PWC") of Liangjiang New District, attended the signing ceremony, where Luo Lin, deputy secretary of the PWC of the district and chairman of the Management Committee, presented the situation of the district.

Also present were Deputy Director Song Gang of Chongqing Municipal Commerce Committee; Li Jie, member of the PWC of Liangjiang New District and vice chairman of the Management Committee; CEO Ludovic Weber and Chief Digital Officer Wang Huan of Saint-Gobain APAC; Board Chairman Chen Weizhong, Board Secretary Bi Shuangxi, Director Wen Yinwei of Financial Accounting Department and Director Zhang Feng of TPO Business Department of Keshun; General Manager Zhang Xiaojian of West China, Gongjian Group. The signing ceremony was presided over by Zhang Li, member of the PWC of Liangjiang New District and vice chairman of the Management Committee.   

Wang Huan representing Saint-Gobain and Bi Shuangxi representing Keshun signed the investment agreement with Li Jie representing the district.

As a leading enterprise of China's buildings waterproof industry, Keshun has incorporated technology and innovation into its genes of development through the strategy and courage of “keeping foothold in China, having a global perspective” in steady approach toward the leading building materials enterprises of the world. Especially since it got listed in 2018, Keshun has gained capital empowerment so that it can more efficiently implement a strategy for high-quality development. In the five years since then, it has made breakthroughs in multiple aspects, including operating income, net profits, business structure, channel structure, production layout and R&D reserves, thereby further consolidating its position in the industry.

Board Chairman Chen Weizhong of Keshun noted: “The lading of the company in Chongqing is the result of multipartite discussions and coordinate promotion by Saint-Gobain, Keshun, the Party Committee and government of district government. As a leading enterprise of China's buildings waterproof industry, Keshun will fully leverage its advanced technical resources for production and R&D in the waterproof field and give play to its innovation advantages in high-performance and environment-friendly products. It will join Saint-Gobain, the leader of sustainable construction industry, in exploring more possibilities of ‘safeguarding a wonderful life’. ”

After the ceremony, the Company held the first meeting of its first board of directors to arrange the work in the upcoming days.

The establishment of the Company aims to meet the increasing demand of domestic construction market for high-performance and sustainable building materials of low carbon and respond to the national initiative for the carbon peaking and neutrality targets in 2060. The purpose is to provide waterproof solutions to buildings and infrastructure through R&D and technical innovations, which excel in performance and satisfy the requirements for sustainable development of environment in production, construction and recycling.

In future, the Company will always devote itself to the R&D of environment-friendly waterproof materials of high standard and performance so as to promote the all-round sustainable development of both the industry and the state. Keshun will also continue to fulfill the concept of green development, closely cooperate with multipartite forces, support the accelerated construction of green manufacturing industry, drive the development of China's high-performance waterproof materials and forge ahead for the mission of “extending the life of buildings, safeguarding a wonderful life”.