Satellite Chemistry announced that on November 11, 2026, the company signed the “Xuxu New Area Investment Project Cooperation Agreement” with the Xuxu New Area Management Committee. It plans to invest in the construction of new propylene and downstream high-end new materials projects in the Xuxu New Area. The total investment of the project is about 20.7 billion yuan, of which the first phase plans to invest 12 billion yuan. The project is being built in two phases. After completion, production capacity such as a 2 million tons/year propane dehydrogenation plant, 600,000 tons/year acrylic acid unit, 300,000 tons/year butyl acrylate unit, and 1.6 million tons/year polycarbonate plant is expected to take no more than 3 years. The bill has been reviewed and approved by the 19th meeting of the 5th board of directors of the company and still needs to be submitted to the shareholders' meeting for consideration.

Satellite Chemistry announced that on November 11, 2026, the company signed the “Xuxu New Area Investment Project Cooperation Agreement” with the Xuxu New Area Management Committee. It plans to invest in the construction of new propylene and downstream high-end new materials projects in the Xuxu New Area. The total investment of the project is about 20.7 billion yuan, of which the first phase plans to invest 12 billion yuan. The project is being built in two phases. After completion, production capacity such as a 2 million tons/year propane dehydrogenation plant, 600,000 tons/year acrylic acid unit, 300,000 tons/year butyl acrylate unit, and 1.6 million tons/year polycarbonate plant is expected to take no more than 3 years. The bill has been reviewed and approved by the 19th meeting of the 5th board of directors of the company and still needs to be submitted to the shareholders' meeting for consideration.