Baofeng Energy (the Company) is a controlled subsidiary of Baofeng Group and a public company listed on Chinas Main Board Market (Stock code: 600989).
Committed to bringing value to society, the Company takes the initiative to execute the development strategies of China and the Ningxia Hui Autonomous Region, follows the principle of pursuing green development, devotes itself to industries that are most needed by China, strives to fulfill its mission in the new era through down-to-earth practices, and has contributed to Chinas energy security. At Ningdong and Ordos National Energy Bases, through technological innovation, the Company has replaced petroleum with coal in production, with an annual output of 20 million tons of methanol and 8.46 million tons of polyolefin, replacing imported products. The upstream and downstream sectors of the industrial chain are closely interconnected, producing more than 100 kinds of high-end chemical products, making intensive conservation and clean and efficient utilization of resources possible and setting a benchmark for green and low-carbon development in the industry.
The Company is committed to executing Chinas strategy of achieving carbon peaking and carbon neutrality and will build the worlds largest single-plant green hydrogen production plant, using green power generated by wind and photovoltaics to produce green hydrogen which will replace petroleum and coal to produce green methanol, green ammonia and other chemical products. In the future, it will have an annual production capacity of 10 million tons of green methanol and 5 million tons of green ammonia, becoming the worlds largest green energy production company.
Meanwhile, the Company deploys AI, big data, 5G, cloud computing, and the Internet of Things to create a modern smart digital plant and lead the innovation and green transformation of the industry.