HK Stock Market Move | SHOUGANG LANZA (02553) rose nearly 10% in the afternoon, partnering with Sinopec to advance an annual production project of 50,000 tonnes of SAF.

SHOUGANG LANZA (02553) rose nearly 10% in the afternoon. As of press time, it was up 5.91% at HK$12.54, with a turnover of HK$18.5604 million. On the news front, in October this year, SHOUGANG LANZA issued an announcement that the company formally signed a "Cooperation Framework Agreement" with Sinopec Research Institute of Petroleum Processing Co., Ltd. and Sinopec Ningbo Engineering Co., Ltd. The three parties will jointly promote the implementation of the Shizuishan, Ningxia bioethanol-to-SAF project, including advancing the implementation of an annual production project of 50,000 tonnes of SAF from industrial off-gas-based ethanol, jointly tackling the new technology of CO2 electroconversion coupled with biofermentation to produce ethanol, and expanding downstream industrial chains such as green ethanol and bio-based ethylene. The board of directors believes that this cooperation will achieve complementarity between the company's industrialization capability in producing ethanol from industrial off-gas and the core technologies of the Research Institute of Petroleum Processing and the engineering advantages of Ningbo Engineering, driving the company's extension into high value-added fields such as green aviation fuel and bio-based new materials, and supporting the "carbon peaking and carbon neutrality" goals and the decarbonization process of the aviation industry.