The 150,000 tons per year green hydrogen-integrated coal chemical industry demonstration project (Phase 4) in Ningdong, Ningxia, successfully completed its mechanical handover on April 30, 2026

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Baofeng Energy recently reported strong performance for the first quarter, as well as steady progress on its green hydrogen projects, which has attracted widespread attention from the industry. Recent project progress: Ningxia Ningdong 150,000 tons/year green hydrogen integrated coal chemical industry demonstration project (Phase 4): This project successfully completed its mechanical commissioning on April 30, 2026, and has now entered the system debugging phase prior to operation. The company announced that it will commence trial operations in June 2026, with full production capacity expected to be achieved by the end of 2026. The total investment in this demonstration project is 13.5 billion yuan; it involves the installation of 30 sets of large-scale electrolytic water hydrogen production equipment. Once completed, it will be able to produce 150,000 tons of green hydrogen and 50,000 tons of green oxygen per year. Additionally, it will support the green transformation of a 2 million-ton coal-based olefin production facility. Upon completion, the project will become the world’s largest green hydrogen-integrated coal chemical complex to date. Inner Mongolia Ordos Wind and Solar Hydrogen Production Project – Phase 1 (Phase 2 expansion): The construction of the main project components is now in progress, with completion and operation scheduled for March 2027. Upon completion, the project will be integrated with Phase 1 in Inner Mongolia, enabling the total green hydrogen production capacity of the Ordos facility to exceed 100,000 tons per year. The green hydrogen projects in Ningdong and Ordos, which are already in operation, are functioning steadily. The production cost of green hydrogen at the Ningdong project has dropped to around 15 yuan per kilogram, which is about 40% lower than the industry average. Performance: Recently, Baofeng Energy released a statement indicating that in the first quarter of 2026, the company achieved operating revenue of 13.237 billion yuan, representing a 22.90% increase compared to the same period the previous year ； The net profit attributable to the shareholders of the listed company reached 3.661 billion yuan, representing a year-on-year increase of 50.23%. The announcement states that the change in performance is mainly due to the full operation of the olefin project in Inner Mongolia this year, resulting in an increase in the production and sales volume of olefin products.