Guoen Technology, a Leader in Chemical New Materials, Opens 25% Higher on Hong Kong Stock Exchange Debut, Attracting Over 2,000x Enthusiastic Subscription

July 30 report: Lianyungang Petrochemical (Satellite) has raised the ex-factory price of PS by 100 yuan. The quotes are as follows: 525 at 9500 yuan/ton, 535T at 9500 yuan/ton, 535M at 9500 yuan/ton, modified benzene 88 at 9950 yuan/ton, and 888 at 10150 yuan/ton. The production capacity is 400,000 tons. Prices are for self-pickup and are negotiable per order.

On July 29, Qualcomm Technologies and BMW Group jointly announced that they had entered into a long-term cooperation agreement. Under the agreement, Qualcomm will provide computing chips for BMW Group’s next-generation digital cockpit and advanced driver assistance systems/autonomous driving systems over the next decade.

Spanish automotive industry media outlet *La Tribuna de Automoción* recently reported that Volkswagen and its partner Gotion High-Tech are engaged in in-depth discussions over the possibility of the Chinese battery maker taking a stake in Volkswagen’s battery plant in Valencia, Spain. Citing industry sources, the report said that Gotion High-Tech Chairman Li Zhen has led senior company executives on a visit to inspect the plant’s operations and related matters.

Luxury carOn July 29, a spokesperson for automaker BMW said the company had reached a voluntary redundancy agreement with employee representatives and plans to cut thousands of jobs in Germany by the end of 2027. According to people familiar with the matter, BMW’s current plan is to reduce its workforce by about 8,000 employees in total, with most of the cuts coming from Germany. The layoffs would amount to about 5% of the company’s total workforce and would mainly target employees in R&D, planning, and other functional departments, while frontline factory workers would not be affected. The plan has not yet been formally announced.

July 29 Report: Lianyungang Petrochemical (Satellite) raised its ex-factory PS prices by RMB 50–100/ton. Grade 525 is quoted at RMB 9,400/ton, 535T at RMB 9,400/ton, 535M at RMB 9,400/ton, modified benzene 88 at RMB 9,850/ton, and 888 at RMB 10,050/ton. The plant capacity is 400,000 tons. Prices are ex-works, subject to negotiation on a per-order basis.