On February 20, 2019, Long Dawei, Secretary of the Party Committee and Chairman of Tsinghua Holdings and Chairman of Chengzhi Shareholding Co., Ltd., led senior executives of CHENGZHI to Nanjing Chengzhi Clean Energy Co., Ltd. (hereinafter referred to as "Nanjing Chengzhi") for investigation. On behalf of the headquarters, Chairman Long Dawei extended his regards to the front-line staff who stuck to their posts during the festival, and investigated the construction of the Chengzhi Yongqing project on site. Gu Sihai, Vice President of CHENGZHI, Chairman of New Energy Department and Nanjing Chengzhi, accompanied the investigation.

Chairman Long Dawei and His Delegation Visited Nanjing Chengzhi for an Investigation

At the symposium, Chairman Long Dawei listened to the reports by Yang Chunsheng, General Manager of Nanjing Chengzhi, and other members of the management team to have a detailed understanding of the production and operation analysis, overall implementation plan and construction of the Chengzhi Yongqing project in Nanjing in 2019. He also gave general instructions on key work at Nanjing Chengzhi in 2019 and the follow-up construction and schedule of the Chengzhi Yongqing project, stressing safe and stable construction to ensure that the project is put into operation on schedule. He also urged improving the construction of the business department as soon as possible.

Background:

Nanjing Chengzhi Clean Energy Co., Ltd. ("Nanjing Chengzhi" for short), a wholly owned subsidiary of CHENGZHI and founded in Sep. 2003, is located at Nanjing Jiangbei New Materials High-Tech Park, and covers a total area of 54 hectares and currently with a registered capital of 3.685 billion RMB.

Nanjing Chengzhi is a leading comprehensive operator of industrial gases and basic chemical raw materials in the field of clean energy in China. It specializes in the production and operation of hydrogen, carbon monoxide, co-production of methanol, olefins, butanol and octanol and other products. The products are mainly supplied to Jiangbei New Area of Nanjing and its surrounding enterprises. The company has always been persistent in innovation, constantly exploring the recycling of traditional energy. With advanced production equipment and technology, it has become a model of energy saving, emission reduction and circular economy development in the park and even in China. In Nanjing Jiangbei New Area, a complementary industrial chain for "optimizing resource allocation, and sharing and cooperation for a win-win result" has been formed, with the coproduction facility of Nanjing Chengzhi as the bellwether.

Nanjing Chengzhi Yongqing Energy Science and Technology Co., Ltd. ("Chengzhi Yongqing" for short), a wholly owned subsidiary of CHENGZHI and founded in Dec., 2011, is located at Nanjing Jiangbei New Area and covers a total area of about 400,000 m² and currently with a registered capital of 2.821 billion RMB. Chengzhi Yongqing mainly consists of the facility for the Methanol-to-Olefins (MTO) project with an annual capacity of 600,000 tons and the facility for its optimized project of butadiene production with an annual capacity of 100,000 tons. Its main products are ethylene, propylene and butadiene, and its byproducts include ethane, propane, LPG and crude benzene, etc. With a total investment of about 4.153 billion RMB, this project is still under construction and is expected to go into production in 2019, which will further expand the coverage and influence of CHENGZHI as a leading domestic comprehensive operator of raw chemical materials.

Source: Nanjing Chengzhi