Yongdong Shares plans to use the funds raised to establish a project for the deep processing of anthracene oil

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Recently, the refinancing project of Shanxi Yongdong Chemical Co., Ltd. was completed. The funds raised this time amount to 365 million yuan, which will be entirely used for the 2×100,000 tons/year advanced processing project for anthracene oil as well as to replenish working capital. 　　It is reported that once completed, the project will have an annual production capacity of 190,000 tons of decrystallized anthracene oil, 5,000 tons of anthraquinone, and 2,000 tons of carbazole. This project can not only provide high-quality raw materials for the company’s production of high-end carbon black, but also extend the industrial chain for the fine processing of coal tar and open up markets for high-value-added products. 　　It is reported that Yongdong Co., Ltd. has developed a unique circular economy model that combines coal tar processing, carbon black production, waste gas power generation, and the production of advanced chemical materials. The company has established long-term cooperative relationships with well-known tire manufacturers both at home and abroad, such as Bridgestone and Hankook. The implementation of these projects funded by this raise will further enhance the company’s advantages in its circular economy industry chain, enabling the comprehensive utilization of coal tar resources. The company will be able to secure a self-sufficient supply of key raw materials for the production of mid-to-high-end carbon black, which will ensure product quality while also providing cost advantages and boosting its competitiveness in the market.