Preparation of the Feasibility Study Report for Gansu Energy and Chemical Group’s Qingyang Green Coal-based Integrated – Coal-to-Olefins Demonstration Project, with a total investment of 66.9 billion yuan

The Qingyang Green Coal-based Integrated – Coal-to-Olefins Demonstration Project of Gansu Energy and Chemical Group is a key project under Gansu Province’s strategy of \"using coal as a foundation with complementary energy sources.\" This project aims to leverage the region’s abundant coal resources to develop an oil, gas, and chemical industry chain worth hundreds of billions. 1. Project Overview: Total investment: 66.9 billion RMB. Location: Changqingqiao Chemical Industrial Park, Qingyang City. Construction entity: Led by Gansu Energy and Chemical Investment Group (Gansu Nenghua Group), with its listed subsidiary being Gansu Nenghua Co., Ltd. (000552.SZ). Current progress: As of April 2026, the project is in the stage of preparing feasibility studies and plans, and relevant bidding processes have been initiated, marking the entry of the project into a phase of substantive advancement. 2. Main construction contents and production capacity: The project adheres to the principle of \"comprehensive planning, focus on key areas, and phased implementation,\" with an emphasis on developing the two industrial chains of coal-to-olefins and coal-to-natural gas. Based on the recommendations of experts, the main production capacity plans include: coal-to-olefins: constructing a new plant with an annual capacity of 2 million tons. Coal-to-natural gas: Construction of a new coal-to-natural gas plant with an annual capacity of 2 billion cubic meters. Supporting industries: These include coal-power integration, as well as the exploration of synergistic development between coal chemistry and petrochemicals, as well as the application of green electricity infrastructure alongside carbon dioxide capture (CCUS) technologies. 3. Resource Foundation: The project relies on the high-quality coal resources owned by Gansu Energy and Chemical Group in the Qingyang area, which include three major coal mines with a total production capacity of 23 million tons per year: Jiulongchuan Coal Mine: 8 million tons per year; Zaosheng Coal Mine: 6 million tons per year; Chunrong Coal Mine: 6 million tons per year; Luochuan Coal Mine: 3 million tons per year. In addition, other high-quality coal resources in the Qingyang area will also be utilized. 4. Strategic significance: Industrial upgrading: Promoting the localization of coal chemical technology and equipment, increasing the added value of products, and achieving clean and efficient conversion of coal. Regional development: Assisting Qingyang in building a modern industrial system that integrates oil, gas, wind, solar, hydroelectric, thermal energy, and hydrogen storage, with the goal of creating industry clusters worth hundreds of billions. Energy security: In line with the energy profile of **abundant coal, limited oil, and scarce gas**, it holds great strategic significance for ensuring **energy security across the province**. 5. Timeline of recent developments: October 2025: An expert review meeting was held on the project plan; the experts recommended integrating the plans for phases one and two and optimizing the production process. January 2026: An announcement for competitive consultations on the preparation of project plans is issued, marking the official start of the plan preparation process. April 2026: The project is in the formal feasibility study phase, with preliminary work being carried out simultaneously. This project is not only a key component of Gansu Energy and Chemical Group’s strategy to expand its operations eastward and westward, but it also serves as an important driving force for the transformation of the Qingyang revolutionary old area from a traditional energy base into a modern integrated energy and chemical industry hub.

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