On the morning of April 13, the Hainan Free Trade Port 2021 (second batch) key project contract signing event hosted by the Hainan Provincial Government and jointly undertaken by the Hainan Provincial Department of Commerce, the Hainan Provincial State-owned Assets Supervision and Administration Commission and the Haikou Municipal Government was held at the Hainan International Convention and Exhibition Center. Shen Xiaoming, Secretary of the Provincial Party Committee of Hainan made the signature, and Feng Fei, Governor of Hainan delivered a speech. The purpose of this event is to promote the implementation of a number of key projects with quality, visibility and conformity to the industrial positioning of the free trade port through the centralized signing of key projects, enhance the industrial development level of Hainan free trade port, and promote the high-quality economic development of the province. A total of 106 projects settled in Hainan during this signing event, with a total investment Capital of more than 65 billion yuan. Chairman Yang Mengjun of the Henghe group participated in this signing event.

Among them, the Henghe (Yangpu) Material Technology Co., Ltd., which was funded by Zhejiang Henghe Industrial Group Co., Ltd., invested in the construction of the C5&C9 comprehensive utilization project. The total investment Capital of the project is 1.26 billion yuan, and the construction content includes 150,000 tons/year cracking C5. Separation device, 100,000 tons/year hydrogenated resin device, 30,000 tons/year pentadiene petroleum resin device, 10,000 tons/year Coumarone resin device and supporting auxiliary facilities.

Investing in Yangpu, Hainan is the second big development opportunity for the Henghe group. The chairman of the company said: Under the policy bonus given by the state as a pilot free trade port and Yangpu’s regional advantages and port conditions, the company will surely manage well. Companies, starting from existing projects, increase investment, extend the petrochemical industry chain, promote the development of regional circular economy, and further consolidate the company's leading position in the global C5 and C9 industry.