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The Shenghong Chemical New Materials project, with a total investment of 21.6 billion yuan, is advancing at pace; the commissioning of five EVA production units will result in an annual production capacity of 1 million tons, making it the largest of its kind in the world. Against the backdrop of a surge in photovoltaic installation capacity by 277.57 GW, EVA particles, which are key raw materials for photovoltaic films, are overcoming supply and demand constraints through technological advancements. As photovoltaic panels are installed in every corner of the world, Chinese companies in the new materials sector have quietly achieved breakthroughs in terms of both production capacity and technical standards. The Shenghong Chemical New Materials project will build 3 sets of tubular EVA (ethylene-vinyl acetate copolymer) production units, and once all of them are completed, it will have an annual EVA production capacity of 600,000 tons. At present, the first set of EVA equipment went into production on October 27 last year; the second set will start trial production at the end of this month, while the third set is in the final stages of installation. To date, the total pile driving volume has reached 210,000 meters, 45,000 cubic meters of concrete have been poured, 7,675 tons of steel structures have been installed, and 329,000 inches of process pipelines have been installed. This project is a chemical new materials project that is given priority in the Xuwéi New Area; it is also a key project for Shenghong Group in pursuing its major strategic transformation, as well as a key project at the provincial level. The total investment in this project is approximately 21.6 billion yuan, of which the investment in the EVA project by Jiangsu Hongjing New Materials Co., Ltd. amounts to about 11.156 billion yuan. Construction of the project’s facilities began in September 2022. Once fully completed, the project will become the world’s largest high-end EVA.