HZ info：On December 12, 2025, Satellite Chemical Co., Ltd. officially signed the Acrylate Green Upgrading and Renovation Project in Nanhu District, Jiaxing, Zhejiang. With a total investment of 7.4 billion yuan, this project adopts an innovative model of "zero-land-increase-production and capacity-expansion-efficiency-improvement" to systematically upgrade existing production facilities. It aims to further strengthen the company's leading position and industrial chain synergy advantages in the domestic acrylic acid and acrylate sector.

The core of this technical renovation is the comprehensive optimization and green upgrade of existing acrylic acid and acrylate production units. Specifically, the company will dismantle the original Phase I plant with an annual capacity of 40,000 tons of acrylic acid and build a new 100,000 tons/year acrylic acid unit and a 100,000 tons/year refined acrylic acid unit. Concurrently, technical upgrades will be applied to the existing Phase II and Phase III units, increasing the single-line capacity of each to 70,000 tons/year. Upon completion, the overall capacity will reach 240,000 tons/year of acrylic acid and 100,000 tons/year of refined acrylic acid.

Additionally, the company will retrofit its Phase I methyl acrylate unit to establish a flexible production switching capability of 45,000 tons/year for methyl acrylate/ethyl acrylate, significantly enhancing its market response flexibility. To ensure the stable, efficient, and safe operation of the new capacity, the project will also synchronously advance the expansion of key supporting storage, transportation, and public utilities facilities. These include expanding the propylene sphere tanks, building new air separation/air compression and loading/unloading facilities, enhancing wastewater treatment capacity, enlarging the firefighting system, and constructing new substations.

Notably, the upstream raw material upgrade for acrylates proceeds in parallel with the company's ongoing technological development in downstream polymer materials. The company has recently updated the technical specifications for its full range of acrylic emulsion products. Satellite Chemical's acrylic emulsion product line is extensive, widely used in textile coatings, adhesives, water repellents, printing pastes, and other fields. By updating technical indicators, the company not only improves product value-added and market competitiveness but also lays a solid technical foundation for its ongoing 160,000 tons/year green and environmentally friendly water-based polymer emulsion series product renovation project This signifies the company's continued transition from large-scale production to high-end and refined manufacturing.

The project is located within the company's existing plant area and newly acquired land in the Zhejiang Nanhu Economic Development Zone (Jiaxing Nanhu High-tech Zone Chemical Park), falling under the key development sector of new materials in the park. The project content aligns well with the zone's strategic positioning of "building a safe, intelligent, and green chemical industry cluster supported by new chemical materials with biomedicine at its core". Satellite Chemical Co., Ltd. was founded in 2005 and is headquartered in Nanhu District, Jiaxing City. It possesses three major production bases in Jiaxing, Pinghu, and Lianyungang. As one of the few domestic companies with a complete C3 industrial chain from "propane-propylene-acrylic acid-acrylate" to polymer emulsions, it has become a "chain leader" enterprise with unique competitive advantages in the industry due to years of industrial accumulation and integrated layout.

The company's industrial layout and R&D innovation are advancing synergistically, demonstrating a comprehensive development posture. As early as June 18, 2025, Satellite Chemical signed a high-performance catalytic new materials project with a planned investment of 30 billion yuan. This project focuses on the R&D and manufacturing of high-end products, aiming to create an integrated production-research platform and promote the clustered development of the catalytic new materials industry. Relying on the company's self-developed core technologies, this project is expected to inject strong momentum into the high-quality development of the chemical new materials industry.

Regarding its R&D system, the main structure of Satellite Chemical's Future R&D Center, with a total investment of 23.8 billion yuan, was topped out in October 2025. The company plans to invest 100 billion yuan in R&D over the next five years and establish a 10 billion yuan innovation incentive fund to reserve technological momentum for long-term development.

Solid industrial and R&D investments underpin the company's steady operational performance. According to the 2025 interim report, Satellite Chemical achieved operating revenue of 23.46 billion yuan, a year-on-year increase of 20.93%; net profit attributable to shareholders was 2.744 billion yuan, up 33.44% year-on-year; and net profit attributable to shareholders after deducting non-recurring gains and losses was 2.896 billion yuan, an increase of 28.61%. Basic earnings per share were 0.81 yuan. Among these, functional chemical products revenue was 12.217 billion yuan, accounting for 52.08% and growing 32.12% year-on-year, serving as the core engine for performance growth. The polymer new materials segment achieved revenue of 5.245 billion yuan, accounting for 22.36%. Although this represented a slight year-on-year decrease of 4.43%, the gross profit margin remained at a relatively high level of 29.54%.

This holistic green upgrade and renovation project not only improves facility efficiency and product structure but also lays a solid foundation for the company's future cultivation and establishment of a billion-yuan "Acrylate and Downstream High-end Chemical New Materials Industrial Park". It showcases Satellite Chemical's important steps towards continuously deepening its presence in the chemical new materials field and moving towards high-quality development.