Hunan Yuxin Energy Technology plans to invest 2.7 billion yuan in raised capital into the first phase of the light hydrocarbon comprehensive utilization project

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Hunan Yuxin Energy Technology plans to invest 2.7 billion yuan in raised capital into the first phase of the light hydrocarbon comprehensive utilization project author/source: Energy knowledge database date: 2023-04-05 Click rate: 48 On March 28, Hunan Yuxin Energy Technology Co., Ltd. (referred to as "Yuxin Shares") issued shares to specific targets and its application documents for financing 3 billion yuan were accepted by the Shenzhen Stock Exchange. The raised funds will be used for the first phase of the light hydrocarbon comprehensive utilization project and to supplement working capital. The number of specific targets for this issuance shall not exceed 35 (inclusive), and the total number of shares issued shall not exceed 68,445,420 shares. Specifically, Yuxin Co., Ltd. plans to invest 2.7 billion yuan in raised capital into the first phase of the light hydrocarbon comprehensive utilization project, and the project will be implemented in Huizhou New Materials Industrial Park. The project construction period is 36 months, and the implementation entity is Huizhou Boko Environmental Protection New Materials Co., Ltd., a subsidiary of the company. Project construction content includes: A set of 240,000 tons/year maleic anhydride unit, a set of maleic anhydride hydrogenation unit (130,000 tons/year BDO + 190,000 tons/year DMS), a set of 60,000 tons/year PBS unit, a set of 46,000 tons/year PTMEG unit, and a set of 360 tons/year oxidation catalyst unit will further fully utilize the surplus alkane resources in the Daya Bay Petrochemical Zone and will further improve the circular economy model of Huizhou's petrochemical industry and new materials industry. After the project is completed, it will provide the company with new product production capacity of 147,600 tons/year DMS, 34,200 tons/year BDO, 46,000 tons/year PTMEG and 60,000 tons/year PBS. The production flow chart is shown below: The main products of the project, BDO, DMS, PTMEG and PBS, can be used as basic materials for engineering plastics, high-end coatings, polyester fibers, spandex, rubber, degradable materials, solvents and cleaning agents in the electronics industry, and can also be used to further synthesize new and new material products with high added value. They are widely used in the fields of new materials, new energy and degradable plastics. Through the construction of the above projects, a complete "butane-maleic anhydride-BDO-downstream new materials" industrial chain will be formed. As of March 2023, Yuxin Co., Ltd. has built a 60,000-ton degradable PBAT production capacity and has begun production. Dimethyl succinate (DMS) can be used as a solvent in the electronics industry. With the development of the electronics industry, the demand is also increasing. Due to its high biodegradability, it can not only be used to synthesize degradable materials, but also widely used in light stabilizers, high-end coatings, bactericides, pharmaceutical intermediates, food additives, spices, etc. Using BDO and DMS as raw materials, high molecular weight biodegradable PBS can be synthesized under the action of catalysts ； Biodegradable polyethylene succinate (PES) can be synthesized by transesterification polymerization of dimethyl succinate and ethylene glycol. Due to its better physical properties, PBS can replace PLA in the field of degradable plastics or can be used in more high-end medical, food and other fields, and will show considerable market growth potential. The PBS process technology adopted by the company is based on process optimization and product modification research and development. By-products in the reaction process * * The amount of furan is very small, and the product quality complies with food safety standard certification, giving it more competitive advantages in terms of product performance improvement and cost reduction. Yuxin shares stated that according to * * According to the "Opinions on Further Strengthening the Control of Plastic Pollution" issued by the National Development and Reform Commission and the Ministry of Ecology and Environment in January 2020, the main non-degradable plastic products currently restricted in use are:: Plastic shopping bags, disposable plastic tableware, hotels, hotel disposable plastic supplies and express plastic packaging. In addition, the production and sales of ultra-thin plastic bags and ultra-thin agricultural films are also restricted. By 2025, express packaging, agricultural mulch films, disposable tableware and plastic shopping bags and other application fields will release degradable plastic demand of 680,000 tons, 470,000 tons, 1.06 million tons and 490,000 tons, totaling 2.7 million tons. The market space is huge. Yuxin Co., Ltd. performed well last year. The 2022 performance report released on the evening of March 12 showed that during the reporting period, Yuxin Co., Ltd. achieved operating income of 6.2634182 million yuan, a year-on-year increase of 95.62%. ； Achieved net profit attributable to shareholders of listed companies of RMB 430.7034 million, a year-on-year increase of 205.48% ； The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 43,404.33 yuan, a year-on-year increase of 223.78%.