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In order to promote the construction of Baofeng's 4 million tons of coal-to-olefin project, the review meeting of "Industrial Development Plan (Revision) of Inner Mongolia Ordos Sulige Economic Development Zone" was held in Hohhot
.
At the meeting, the East and West Economic Research Institute of Zhongyan Zhiye Group introduced in detail the revision of the "Industrial Development Plan for Sulige Economic Development Zone, Ordos, Inner Mongolia".
Leaders and experts at the meeting agreed that the plan objectively analyzed and evaluated the industrial development foundation of the park.
, project support, and development environment, with strong forward-looking, pertinence and operability, and put forward suggestions and suggestions for further optimization and improvement of the plan
.
On September 4, Ren Deqi, Secretary of the Party Committee and Chairman of Bank of Communications, and Yin Jiuyong, Vice President of Bank of Communications, on behalf of the Head Office of Bank of Communications, signed a 20 billion trusted strategic cooperation agreement with Dang Yanbao, Chairman of Ningxia Baofeng Energy Group
.
On July 2, Ningxia Baofeng Energy Group Co.
, Ltd.
issued the "Announcement on Proposed Foreign Investment and Establishment of Subsidiaries"
.
On July 6, Inner Mongolia Baofeng Coal-Based New Materials Co.
, Ltd.
announced the social stability risk assessment of the 4×1 million tons/year coal-to-olefin demonstration project
.
The Baofeng project in Inner Mongolia is located in Wushen Banner, an energy and chemical “Golden Triangle” area with Ningdong in Ningxia, Ordos in Inner Mongolia, and Yulin in Shaanxi as the core
.
Liu Yuanguan, President of Baofeng Energy, said that the establishment of the Inner Mongolia subsidiary will further enhance the company's scale advantage and industry strategic position, and promote the company's overall profitability
.
In addition to continuing to promote scale expansion and production capacity enhancement, Liu Yuanguan said that Baofeng Energy's Inner Mongolia subsidiary will also extend the company's coal chemical circular economy industrial chain
.
In the first half of the year, Baofeng Energy achieved operating income of 7.
52 billion yuan, a year-on-year increase of 15.
35%; total profit of 2.
354 billion yuan, a year-on-year increase of 7.
45%; net profit attributable to shareholders of the listed company was 2.
092 billion yuan, a year-on-year increase of 10.
75%
.
Baofeng Energy stated that in the first half of 2020, despite the complex external environment such as the impact of the new crown epidemic, the accelerated transformation of market demand, and sharp fluctuations in product prices, the company turned the crisis into an opportunity, tapped its potential internally, and actively developed markets externally.
Effectively supplementing the volume and supplementing the price with volume, reducing the adverse impact of economic downturn and industry fluctuations, and maintaining the company's stable operation
.
In terms of scale, production capacity, efficiency, cost, product structure and other aspects, the company's core competitiveness has been enhanced three-dimensionally, and its own immunity against external interference has been enhanced
.
Judging from the semi-annual report, Baofeng Energy has been focusing on optimizing costs this year and continuously improving the circular economy industrial chain
.
On the one hand, the projects invested by the raised funds were put into operation smoothly, forming a new profit growth point
.
In June 2020, Baofeng Energy's investment project with raised funds was fully put into operation.
The project includes the methanol-to-polyolefin project of 600,000 tons/year, which was put into operation in October 2019, and the coke gasification to 2.
2 million tons/year, which was put into operation in June 2020.
methanol project
.
Among them, the commissioning of the 2.
2 million tons of methanol project also means that the front-end and back-end projects of the fund-raising project have been fully opened, indicating that Baofeng Energy has 1.
2 million tons/year polyolefin, 4 million tons/year methanol, 780,000 tons/year The annual production capacity of fine chemical products has become one of the largest coal-to-olefin production enterprises in China.
The company's polyolefin production capacity accounts for more than 10% of the country's total coal-to-olefin production capacity
.
On the other hand, the company's raw material coal resources guarantee capability was further strengthened
.
In July 2020, Baofeng Energy Hongsi Coal Mine obtained the "Mining License of the People's Republic of China", which contains a mining area of 22.
3 square kilometers and is valid for 30 years
.
At present, Baofeng Energy has 4 coal mines including Hongsi Coal Mine, and its own coal mine geological reserves of about 857 million tons.
After all of them are put into production, the total annual coal production capacity will reach 8.
1 million tons
.
Among them, according to data, the coal resource reserves of Hongsi Coal Mine reached 278 million tons
.
After the Hongsi Coal Mine can be put into trial production in the second half of the year, the coal production capacity of the company's own coal mines will increase from the current 5.
1 million tons per year to 7.
5 million tons, further reducing the cost of raw materials and improving the continuity and stability of the supply of raw coal required for production.
.
Baofeng Energy said that the company has made a one-time plan in the circular economy industrial chain, centralized layout, and implemented it in stages, forming an industrial cluster with a super single scale
.
The circular economy industrial chain makes the company's upstream and downstream production units closely connected, and the products of the previous unit directly become the raw materials for the next unit.
The above two projects are "listed" as scheduled to achieve the comprehensive effect of expanding production capacity, stabilizing supply, and reducing costs, and further Enhance the integration advantage
.
Baofeng Energy will start the 4 million tons/year coal-to-olefin project, and rebuild the Inner Mongolia version of Xinbaofeng with three times the volume in the energy golden triangle
.
This is the first time that Baofeng Energy has launched an off-site layout.
The Inner Mongolia project of Baofeng Energy has been approved by the Ordos Municipal People's Government in June 2020 and listed in the "Ordos City Construction of Modern Coal Chemical Industry Demonstration Zone Master Plan"
.
In the next five years, the average annual growth rate of China's polyethylene demand will be 6.
2%, and the proportion of imports to domestic demand will drop slightly to 40% by 2023; the average annual growth rate of China's polypropylene demand will be 5.
4% until 2023.
Imports are expected to exceed 5 million tonnes
.
