Satellite Chemical: Plans to invest approximately RMB 20.7 billion to build a propylene and downstream high-end new materials project.

Satellite Chemical announced that on November 11, 2026, the company signed the "Xuwei New Area Investment Project Cooperation Agreement" with the Xuwei New Area Management Committee, planning to invest in and build a new propylene and downstream high-end new materials project in Xuwei New Area, with a total investment of approximately RMB 20.7 billion, of which the first phase is planned to invest RMB 12 billion. The project will be constructed in two phases. After overall completion, it will form production capacity including a 2 million tons/year propane dehydrogenation unit, a 600,000 tons/year acrylic acid unit, a 300,000 tons/year butyl acrylate unit, and a 1.6 million tons/year polycarbon alcohol unit. The construction period of the first phase is expected not to exceed 3 years. The proposal has been reviewed and approved at the 19th meeting of the company's fifth board of directors and still needs to be submitted to the shareholders' meeting for review.