Qingdao Gulf New Materials Technology Co., Ltd. is a state-owned holding enterprise. According to the Organic Law of People's Republic of China (PRC) and the provisions of the State-owned Assets Supervision and Administration Commission of the State Council, the State-owned Assets Supervision and Administration Commission of the State Council exercises unified supervision over all state-owned holding enterprises in China. Therefore, Qingdao Bay New Materials Technology Co., Ltd., as a state-owned holding company, is supervised by SASAC.
As a state-owned assets supervision institution, SASAC's main responsibility is to supervise and manage state-owned holding enterprises and ensure the safety and appreciation of state-owned assets.