Project with satellite chemical investment of over 1 billion yuan to produce 300,000 tons of high-absorbency resin per year signed in Jiaxing

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On the afternoon of January 18, 2025, the signing ceremony for Satellite Chemical’s project to produce 300,000 tons of high-absorbency resin per year was held at the headquarters of Satellite Chemical Co., Ltd. It is reported that the total investment in this new project amounts to 1.2 billion yuan, of which over 1 billion yuan is allocated to fixed asset investments. The total construction area will be around 56,000 square meters, and the project will have the capacity to produce 300,000 tons of highly absorbent resins per year. It is expected that the output value after full operation will exceed 3 billion yuan. Shao Panfeng said that Satellite Chemical is a leader in the chemical industry, as well as a shining gem among local enterprises in Nanhu; its development history is nothing short of an epic business legend. With a strong sense of loyalty to its hometown, Satel Chemical has consistently remained rooted in Jiaxing and focused on development in South Lake. In recent years, several major projects have been established there, adding new branches to this towering tree that is Satel Chemical and yielding further results in this fertile ground for entrepreneurship in South Lake. The signing of this new project not only opens a new chapter in the strong relationship between the government and enterprises, but also injects new momentum into Nanhu District’s efforts to strengthen its innovative productivity and promote high-quality economic development. Nanhu District will, as always, offer the most sincere attitude and the most thorough services to ensure that the project can start construction quickly, progress swiftly, and become operational at an early date. By working together in a mutually beneficial manner, both parties can share the successes of this industry and achieve joint growth. Yang Weidong provided an overview of the company’s development over the past year as well as information on its new projects. He said that as a local enterprise in Nanhu District, Satellite Chemical has always remained rooted in Nanhu, been committed to its development, and focused on fostering the \"sweet potato\" economy. The company aims to establish value-driven headquarters in Nanhu District, as well as set up its global marketing centers there, thereby fully leveraging the industrial synergy to drive further development. The signing of this new project represents Satellite Chemical’s proactive efforts to increase investment in Nanhu and develop it further. It is also a new approach to upgrading the company’s functional chemicals and fostering the growth of an industry cluster focused on high-value functional chemical materials, which will contribute to the high-quality development of the regional economy.