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In 2020, the 4 million tons per year coal-to-olefins demonstration project (with an initial capacity of 2.6 million tons per year) was approved by the Development and Reform Commission of Inner Mongolia Autonomous Region. The environmental impact assessment report for the project has been completed, and the project is now in the stage of seeking approval. In September 2020, the construction of the third phase of Ningdong project, which involves a 500,000-ton/year coal-to-olefins facility and a 500,000-ton C2-C5 integrated olefins production plant, officially began. The construction of the 3 million tons per year coking cogeneration project is progressing in an orderly manner, and the first phase of the demonstration project for solar electrolysis-based hydrogen production, energy storage, and comprehensive applications was put into trial operation in February 2021. Projects during the reporting period: 1) Ningdong Phase III 500,000 tons/year coal-to-olefins project and 500,000 tons/year C2-C5 comprehensive utilization to produce olefins project: The methanol and olefins plants are scheduled to come online by the end of 2022, while the 250,000 tons/year EVA plant is scheduled to go into operation in 2023. 2) The 41 million tons per year coal-to-olefins demonstration project of Inner Mongolia Baofeng Coal-based New Materials Co., Ltd.: Currently, environmental impact assessment procedures and various preparations for commencing operations are underway, with the goal of completing the project and putting it into production as soon as possible. 3) 3 million tons per year coal coking cogeneration project: Completion and commissioning are scheduled for the end of 2021. The associated benzene hydrogenation capacity will be expanded to 120,000 tons per year, and the tar processing capacity will be expanded to 400,000 tons per year, resulting in a total capacity of 7 million tons per year – the highest in the domestic industry. 4) Solar electrolysis hydrogen production for energy storage and comprehensive application demonstration project: The first phase of this project commenced construction in April 2020, with the overall project scheduled to be completed by the end of 2021. 5) Hongsi Coal Mine with a capacity of 2.4 million tons per year: It began trial operations in October 2020, and is scheduled to be put into full operation after passing the acceptance tests within 2021. Overview of the 3 million tons coal coking project: Ningxia Baofeng Energy Group Co., Ltd. plans to invest 340 million yuan to build a \"3 million tons per year coal coking and multi-product production project\" within the existing factory premises in Area B of the Baofeng Energy Circular Economy Industrial Park, located in the Linhe Industrial Zone of the Ningdong Energy and Chemical Industry Base. The main components of this project include the construction of new coking and chemical product recovery systems, the establishment of a new needle coke production system, the expansion of benzene hydrogenation capacity, and the expansion of the tar processing facility’s capacity. The construction capacities are 3 million tons per year for coking, 100,000 tons per year for needle coke; the existing benzene hydrogenation plant with a capacity of 100,000 tons per year will have its capacity increased to 120,000 tons per year; while the existing tar processing plant with a capacity of 300,000 tons per year will be expanded to 400,000 tons per year. The 3 million tons per year coking cogeneration project launched by Baofeng Energy will utilize 6.25-meter ramming coking units, corresponding chemical product recovery systems, as well as auxiliary infrastructure. The project features a high degree of integration; its downstream industrial chain is well-developed. The raw coal used has a wide range of applications and high utilization efficiency, resulting in significant scale advantages and stronger profitability. In April 2020, the 3-million-ton/year coal coking and multi-product project of Baofeng Energy officially commenced as one of the first batch of major projects in the Ningdong Base in 2020. Once the project is completed and put into operation, the company’s coke production capacity will reach 7 million tons per year, making it one of the largest independent coking enterprises in China and contributing to the development of the coke industry in a direction that emphasizes clean and efficient production methods.