An investment of 10 billion yuan and a research team of 2,000 people: a major effort to build a future research center for satellites

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On May 28, Satellite Chemical began the construction of the Satellite Future R&D Center in Jiaxing, Zhejiang. The Satellite Future R&D Center project was signed and established in the Jiaxing Economic and Technological Development Zone in July 2023. It focuses on research and industrialization in key strategic materials as well as cutting-edge new materials such as catalysts, new energy materials, polymer materials, and functional chemicals. Yang Weidong, chairman and president of Satellite Chemical Co., Ltd., said, “Relying on the Satellite Future R&D Center, Satellite plans to invest 10 billion yuan in R&D over five years, allocate 1 billion yuan for R&D incentives, and build a R&D team of 2,000 people. By carrying out a series of strategic and pioneering innovation projects, the company aims to address various key technological shortcomings.” ” Satellite Chemical’s 10 billion yuan plan: On the evening of March 1, Satellite Chemical issued a statement titled “Announcement on Promoting the Implementation of the ‘Dual Improvement in Quality and Returns’ Action Plan”. The announcement states that the company is focusing on **the ‘new three’ sectors of new energy vehicles, lithium-ion batteries, and solar cells**, and is concentrating its research and development efforts on the new chemical materials needed for these applications: For new energy vehicles, the company is developing polyolefins and polyethylene elastomer materials specific to use in such vehicles ； Lithium-ion batteries: Diaphragms, electrode coatings, electrolyte materials, etc., related to lithium-ion batteries ； Solar cells: Materials related to solar cells such as photovoltaic film materials (POE), adhesives, silver paste, and hydrogen peroxide – taking advantage of the supply capabilities across the entire industry chain – help to expand the \"ecosystem\" of new chemical materials and promote the high-quality development of the real economy. At the same time, the company is committed to using technology to shape the future; it focuses on integrating technological innovation resources and has introduced incentive measures for research and development, including investments of over 10 billion yuan in R&D over the next five years, rewards of over 1 billion yuan for successful outcomes, as well as profit-sharing based on technological leadership. Layout of the satellite chemicals industry base: Focusing on the real economy, satellite chemicals have now established a strategic layout featuring one headquarters and three major bases. The Jiaxing facility aims to develop a high-value polymer new materials industrial park ； The Pinghu base in Jiaxing is developing a C3 industry chain using propane as raw material ； The Lianyungang facility creates a new industrial chain based on the use of diverse raw materials, and builds a sustainable development ecosystem through the integration of upstream and downstream industries.