【Haichuan Project Updates】Qixiang Tengda plans to build a 80,000-ton/year acrylic acid and 60,000-ton/year butyl acrylate production facility, as well as a hydrogen-related improvement project

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Recently, Qixiang Tengda issued two announcements regarding project investments, planning to build projects for the production of 80,000 tons per year of acrylic acid and 60,000 tons per year of butyl acrylate, as well as a project for the upgrading of hydrogen-related facilities. 　　It is understood that the total investment for the 80,000 tons per year acrylic acid and 60,000 tons per year butyl acrylate projects is 546 million yuan, with an estimated construction period of 12 months. This project forms a vertical integration link with the company’s 700,000 tons per year propane dehydrogenation (PDH) project, which helps to leverage the advantages of industrial integration; as a result, costs can be effectively controlled and product profitability can be maximized. 　　The hydrogen upgrading project plans to build a pure hydrogen filling unit with a capacity of 6,000 Nm3/h, a pure hydrogen filling and relocation unit with a capacity of 1,500 Nm3/h, a hydrogen filling and relocation unit with a capacity of 9,000 Nm3/h, a hydrogen power generation system, and related supporting equipment. Upon completion of this project, the company will have a hydrogen loading capacity of 16,500 Nm3/h. The total investment for this project is 121 million yuan, with an estimated construction period of 12 months. 　　Qixiang Tengda states that the hydrogen produced as a by-product by the company has a purity of 99.99%, which is sufficient to meet various demands in the market. With the full commissioning of the 700,000 tons/year PDH project that has already been built, the company’s output of hydrogen as a by-product will reach 44,800 Nm3/h. The hydrogen upgrading project that is being invested in can enhance the capacity for loading, unloading, and transporting hydrogen, which facilitates the rational use of hydrogen as an energy source by the company, optimizes resource allocation, and improves the company’s efficiency. 　　According to industry experts, the operation of these two projects will directly boost the company’s performance. The 2021 performance report showed that the company achieved operating revenue of 34.892 billion yuan, a 41.34% increase compared to the previous year ； The net profit attributable to the shareholders of the listed company was 2.393 billion yuan, an increase of 145.22% compared with the previous year. Although revenue declined slightly in the first quarter of this year, with the commissioning of two new projects, Qixiang Tengda’s revenue and profits are expected to increase steadily.