Firm belief, forging strengths, and moving towards greenery
Steadily advancing on the track of high-quality development
The setting sun of another year brings the beginning of a new cycle. Looking back on 2023, external challenges abounded with frequent geopolitical conflicts, persistent US dollar appreciation, and global market reshaping—all directly impacting the chemical and textile industries. Through enduring pressure, overcoming difficulties and forging ahead, we achieved overall steady development, improving quality and accumulating advantages while maintaining stability and profitability.
Over the past year, adhering to strategic guidance, we further deepened the "1+N" industry deployment. The completion of the Shenghong refining and chemical integration project laid a solid foundation for high-quality industrial transformation as the core raw material supply platform. Numerous new energy and new material products achieved breakthrough progress, driving the development of New Productive Forces. The fourth acrylonitrile unit of Sierbang Petrochemical came online with total capacity reaching 1.04 million tons/year, making it the world's largest. POE self-research and industrialization succeeded with a 100,000 ton/year facility under construction. Leveraging technological advantages, the million-ton EVA project continues to advance toward the goal of "building the world's largest photovoltaic film production base". The successive commissioning of regenerated polyester fiber, PETG, MMA and other high-end new material projects realized self-sufficiency of major raw materials and significant synergies across upstream and downstream integration. Aiming to build an industry chain of advanced, intelligent and green refining and petrochemicals, we seized all favorable opportunities and conditions relying on full chain development layouts to open up broader prospects for high-quality industrial transformation and upgrading.
Over the past year, adhering to innovation-driven development, we further strengthened core competitiveness. Upholding the philosophy of "no repetitive construction, no conventional products, no conventional production technologies", focusing on various requirements to develop New Productive Forces, we made technological innovation the cornerstone and increased R&D efforts. Guowang High-tech took the lead in establishing the Suzhou Biomass Fiber Materials Innovation Alliance. The Petrochemical Industry Group explored building smart factories with equipment self-control rates exceeding 95%. Sierbang Petrochemical applied robotic and other new technologies to build the industry's first intelligent inspection system. At the same time, we continued to research and produce high-end products—our independently developed high-melting point EVA was awarded "2022 Chemical New Material Innovation Product". A series of innovative achievements have made huge contributions to China's transformation and upgrading of emerging industries.
Over the past year, adhering to green and low-carbon development, we further improved sustainable development capabilities. The carbon dioxide capture and green methanol unit was commissioned to build the industry's first positively carbon-absorbing industrial chain producing new energy materials. The official launch of the Green Fiber Product Credible Platform formulated China's standards system for the green textile industry. Projects such as biomass fiber, carbon-negative fiber and recycling of used textiles progressed in an orderly manner. Focusing on "growing green volume" to "enrich industrial value", we continued to create green technology application scenarios and explore full-cycle carbon reduction to become an industry benchmark for emerging productive forces.
Over the past year, adhering to cooperation and mutual benefit, we further expanded our domestic and international "friends circle". Through long-term cooperation with domestic and foreign suppliers and customers, we are committed to building mutually beneficial long-term partnerships based on win-win cooperation. We actively promoted in-depth cooperation with renowned international suppliers in areas such as raw material procurement and hardware facility sharing. Direct purchasing suppliers of regenerated fibers added brands such as Décathlon, Uniqlo, Target and H&M. Our roster of strategic partners continues to expand.
As spring emerges on the forested hills, great opportunities lie ahead. Currently, China is accelerating the establishment of a modern industry system with advanced manufacturing at its core to promote high-quality development and cultivate New Productive Forces. We will unwaveringly adhere to the original aspiration of developing in alignment with national strategies, adhere unwaveringly to the "1+N" industry layout, adhere unwaveringly to the transformation orientation of advancing, intelligence and green development, with resolve, unity and perseverance. Going forward, we will continue making technological innovation the cornerstone and increase R&D efforts focused on key areas to continuously develop and produce high-end products; take green and low-carbon development as our pursuit to explore full-cycle carbon reduction and lead the way for the industry to achieve "dual carbon" goals; leverage digital transformation as our path by fully applying frontier technologies such as AI and big data to improve total factor productivity and steadily advance toward our goal of becoming a "world-class enterprise with global competitiveness".
