(Yicai) Feb. 25 -- Chinese polymer material modification additive supplier Rianlon plans to invest no more than USD300 million in a research, development, and production base in Malaysia.

The base will mainly research, develop, and make anti-aging additives for polymer materials and lubricating oil functional additives, the Tianjin-based firm announced yesterday, without revealing any further details.

The project will help Rianlon better expand its international business, meet the needs of overseas customers, develop more potential clients, and allow it to more flexibly respond to business risks brought about by changes in the international trade pattern and macro environment, the company added.

Rianlon is a major manufacturer and supplier of anti-perishing additives for polymer materials. In recent years, it has forayed into the lubricant additives and synthetic biological raw material chemicals business.

In 2023, over 82 percent of Rianlon’s revenue came from the polymer material antioxidant additives business, according to its latest annual financial statement. The company’s overseas sales accounted for about 37 percent of the total in the period.

Rianlon’s shares [SHE: 300596] were trading down 1 percent at CNY32.19 (USD4.44) as of lunch break in Shenzhen today. The ChiNext Index fell 0.3 percent.

Editor: Futura Costaglione