BASF and Xilong Sign Strategic Cooperation Agreement on E-Commerce

• Further expand scope of authorized distribution, building on existing  long-term partnership
  
• To leverage market potential with one-stop e-commerce platform 

Shanghai, China­ - September 15, 2021 – BASF and Xilong Scientific Co., Ltd. (Xilong) signed a strategic cooperation agreement today, further extending its long-term partnership by expanding the scope of its distribution agreement. The companies will launch a new sales channel on e-commerce, leveraging the growth potential of digital platforms in the chemicals industry.

As per the agreement, Xilong will provide BASF access to its digitalized integrated service platform for the chemical industry – ‘Youliao Web’. The platform uses digitalization and internet-based tools to better understand market needs. Further, it provides optimized solutions in the areas of product design, service and marketing using big data analysis. Through this partnership, Xilong  intends to sell products authorised for distribution by BASF on the e-commerce platform.

Dr. Zheng Daqing, Senior Vice President, Business & Market Development, BASF Greater China, said, “Xilong has been BASF’s long-term and trusted distribution partner. The scope of our cooperation covers a wide range of product porfolios in the chemical industry. This agreement signals a deeper partnership between us, as well as an extension of our collaboration from offline to online platforms. BASF intends to leverage Xilong’s leading digitalized integrated service platform to focus on the chemical industry’s e-commerce market, establish a new sales channel and pursue win-win opportunties.”

Weipeng Huang, the Chairman of Xilong Scientific said, “I am grateful to BASF for its cooperation and support towards Xilong over the years. Our long-term and  mutually-beneficial cooperation has laid a strong foundation, allowing us to arrive at the e-commerce agreement.”

“As an important step  towards digitalizing the chemical industry,  we believe Youliao Web’s digitalized integrated service will enable us launch a strong sales channel on the e-commerce platform,” he further added.

About BASF

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. About 110,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2020. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S.

About Youliao Web

Youliao Web, established in 2015, is a digitalized integrated service platform of the chemical industry, under Xilong Scientific (SZSE: 002584), a listed company in China’s chemical industry. Equipped with internet-of-things, big data, cloud computing and SaaS capabilities as its foundation, Youliao Web consolidates bio-resources for the chemical industry, focuses on an omni-channel, full-chain trading environment built upon big data and smart technology for the chemical industry, and offers a one-stop digitalized integrated services such as trading platforms, smart contracts, intelligent quotation systems, technical consultations and supply chain financing. It aims to enable enterprises to reduce cost and enhance efficiency, mitigate trading risks, and promote and accelerate the digital transformation and upgrading of enterprises.

Driven by its mandate to be “technology-driven + full-chain service provider”, Youlian Web aims to be the link between quality upstream and downstream resources. Currently, it serves various professional chemical manufacturers, integrated suppliers as well as a substantial downstream customer base. Youlian Web has established multiple long-term collaborations with well-known domestic and international brands and companies, including BASF, Procter & Gamble, LG, Lotte Chemical, Kao, Solvay and COFCO.