Nine-Feng Energy: Promoting the Hainan Aerospace Special Combustion Gas Project, with an estimated investment of 300 million yuan in the second phase.

Jiufeng Energy announced that in 2023, the company will invest approximately 493 million yuan to build the supporting project for special fuel and gas at Hainan Commercial Aerospace Launching Center. As of now, the first phase of the project is basically completed, and products such as liquid hydrogen have been used multiple times for rocket launches and have been verified, while high-purity liquid methane is awaiting verification. In order to meet the increased demand, the company is implementing a second phase expansion plan, with an estimated total investment of approximately 300 million yuan, and is currently progressing with land planning and site selection. In addition, the company has expanded cooperation with other aerospace launch base projects. However, the project faces risks such as benefits falling short of expectations, uncertainty in land use and expansion plans.