Changes in Hong Kong stocks | Shougang Langze (02553) rose nearly 10% in the afternoon and joined hands with Sinopec to advance a SAF project with an annual output of 50,000 tons

The Zhitong Finance App learned that Shougang Langze (02553) rose nearly 10% in the afternoon. As of press release, it rose 5.91% to HK$12.54, with a turnover of HK$18.564 million.

According to news, in October of this year, Shougang Langze issued an announcement, and the company officially signed a “Cooperation Framework Agreement” with Sinopec Petrochemical Research Institute Co., Ltd. and Sinopec Ningbo Engineering Co., Ltd. The three parties will jointly promote the implementation of the bioethanol SAF project in Shizuishan, Ningxia, including promoting the implementation of the SAF project with an annual output of 50,000 tons of industrial exhaust gas to produce ethanol, jointly exploring new technologies for combining carbon dioxide electric conversion to biofermentation to ethanol, and expanding downstream industrial chains such as green ethanol and bio-based ethylene.

The board of directors believes that this cooperation will complement the company's industrial exhaust ethanol industrialization capabilities with the core technology of the Academy of Stone Sciences and the engineering advantages of Ningbo, promote the company's expansion into high-value-added fields such as green aviation fuels and new bio-based materials, and help the “carbon peak, carbon neutrality” goal and the aviation industry's carbon reduction process.