Jiaxing, Zhejiang has added another one million tons of ethylene production capacity. . . Who knows about this place?

Is the news about Lao Yu true or fake?

China Sanjiang Chemical (02198) announced that the group is planning to build a new project in the China Chemical New Materials Park, located in the Gang District of Jiaxing City, Zhejiang Province, China, adjacent to its existing production facilities. This project will involve the production of 1 million tons of ethylene per year and 1 million tons of ethylene oxide/ethylene glycol per year. The upstream part of the new project under planning is an ethylene production facility with an annual capacity of 1 million tons, and this facility is planned to use ethane, naphtha, and propane as its main raw materials. The new project under planning can adjust the proportion of these three main inputs in the production facilities of the new project according to the market prices of ethane, naphtha, and propane, thereby avoiding the risks associated with dependence on a single raw material as well as price fluctuations. 　　The downstream production facility for 1 million tons per year of ethylene oxide/ethylene glycol, part of the new project under planning, can adjust the output ratio based on the market prices of ethylene oxide and ethylene glycol as outputs, thereby avoiding the risk associated with price fluctuations in any single output and aiming to maximize profits. 　　The board of directors is working on arranging bank financing for the new project, as well as obtaining the necessary approvals and licenses.

Just look at the stock price of Sanjiang on the Hong Kong stock market to see. At this meeting, EO/EG – it seems like they’re looking for something. . .