Satellite Chemical (002648.SZ) plans to invest approximately RMB 20.7 billion to build a propylene and downstream high-end new materials project.

Zhito Finance APP News: Satellite Chemical (002648.SZ) announced that on November 11, 2026, the company signed the "Xuwu New Area Investment Project Cooperation Agreement" with the Management Committee of the National East-Central-West Regional Cooperation Demonstration Zone (Lianyungang Xuwu New Area) (hereinafter referred to as the "Xuwu New Area Management Committee"). The company plans to register a project company in Xuwu New Area and invest in the construction of a new propylene and downstream high-end new materials project, with a total investment of approximately RMB 20.7 billion.