In February 2019, Shenzhen Qianhai Shengfeng Energy Co., Ltd. was established as a wholly-owned subsidiary of Paul Run Group. Shengfeng Energy is one of the pillar industries in the petroleum and chemical sector of Paul Run Group. Its business scope mainly engages in domestic trade and international import and export of chemical products. In order to better cope with the development, the company will reach a long-term strategic partnership with Zhejiang Materials Industry Group, CNOOC and other domestic and foreign business platforms, and enhance the market competitiveness of Shengfeng with the support of the advantages of state-owned enterprises.