Recently, Sinopec Capital Co., Ltd. (hereafter referred to as Sinopec Capital) has completed its investment in Langfang Feize Composites Technology Co., Ltd (hereafter referred to as Feize Technology), making a breakthrough in regards to the investment in the field of carbon fiber composite materials. As Sinopec Group’s strategic project, the investment case has a complex transaction structure and a long execution period. Dedicated to Sinopec Group’s strategy, Sinopec Capital has been pushing forward actively the implementation of the project, realizing capital’s function of incubation and leverage.

Based on its core business of lightweight carbon fiber composite materials, Feize Technology focuses on servicing customers in various fields including automobile, wind power, rail transit, and civil aviation with whole process including solutions, structural design, simulation analysis, material R & D, process trial, verification, mass production and delivery. So far, Feize Technology has delivered more than 80,000 sets of high-strength carbon fiber composite rear floor panels for NIO ES6. This project marked an important milestone in the large-scale application of carbon fiber composite materials in China's automotive industry.

The investment in Feize Technology will help Sinopec enhance its presence in the midstream and downstream of the carbon fiber industry chain, accelerate its commercialization of self-owned brand carbon fiber, and march towards the application of high value-added composite materials.