On August 10, 2023, Qingdao Velles Innovation Technology Co., Ltd. signed a strategic cooperation agreement with Shandong Ruihai Group and Shandong Ruihai New Material Technology Co., LTD. Velles will be the Global General Sales Agent of Ruihai Group in the development of acrylamide and polyacrylamide products at home and abroad for the next three years. The two sides will give full play to their respective advantages and carry out all-round and three-dimensional cooperation following the increasing market demand.