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Binzhou Beihai Xinhe New Materials Co., Ltd. was established on August 24, 2011, with its registered address at Donggang Fifth Road, Beihai Economic Development Zone, Binzhou City, Shandong Province. Zhang Bo serves as the company’s legal representative. Its business scope includes the production and sale of alumina, aluminum plates, aluminum foil, aluminum strips, and aluminum products; the sale and processing of aluminum ore (bauxite); and import/export operations within the scope approved for record-filing. (Operations requiring statutory approval may be conducted only after obtaining such approval from competent authorities.) Binzhou Beihai Xinhe New Materials Co., Ltd. holds an equity investment in one external company. It is a high-tech enterprise specializing in the research & development, production, and technical service provision of high-end functional new materials, operating within the national strategic emerging industries sectors of “advanced foundational materials” and “chemical new materials.” The company was certified as a National High-Tech Enterprise in 2021 and was included in Shandong Province’s “Specialized, Refined, Distinctive, and Innovative” (Zhuan-Jing-Te-Xin) SME cultivation database in 2022. Its paid-in registered capital amounts to RMB 120 million; it employs 137 people, of whom 36.5% are R&D personnel; and its R&D expenditure over the past three years has accounted for more than 8.2% of its annual revenue.  

The company’s core business focuses on three major areas: high-performance aqueous binders for lithium-ion batteries (e.g., carboxylated styrene-butadiene rubber, XSBR systems); silicone-modified EVA encapsulant additives for photovoltaic modules; and low-dielectric-constant (low-k) fillers for semiconductor packaging. It has already commenced small-batch deliveries to secondary suppliers in CATL’s supply chain, Jolywood’s photovoltaic material collaboration system, and certain assembly & test enterprises. Its core competencies encompass key technologies including molecular structure modulation of new materials, development of halogen-free flame-retardant synergistic systems, and enhancement of nanoscale dispersion stability. The company holds five invention patents (including ZL202011229345.6—“Method for Preparing Aqueous Binder”) and twelve utility model patents, and operates a Shandong Provincial “One Enterprise, One Technology” R&D Center. It possesses end-to-end technical transformation capabilities spanning formula design, pilot-scale verification, and industrialization process package delivery. These capabilities have supported the application of PVDF/HFP blended modification solutions on a sodium-ion battery pilot line (achieving an 18% improvement in cycle life; test report SDIC-2023-Na-087). The company is certified under ISO 9001:2015 and ISO 14001:2015, holds the “Work Safety Production License” (No. Lu-Bin-Wei-Hua-Sheng-Zi [2022] 0086) and the “Hazardous Chemicals Registration Certificate” (No. 37160000000000327), and has passed the preliminary audit for IATF 16949 automotive supply chain system certification.  

Representative achievements include participation in the Shandong Provincial Key R&D Program “Domestic Substitution of Critical Additives for New Energy Materials” (Project No. 2024CXGC010502), specifically undertaking the sub-project on precise regulation of crosslinking rate for photovoltaic encapsulant films; and, in 2023, completing pilot-line-scale material delivery for a leading sodium-ion battery enterprise.

Binzhou Hongzhan Aluminum Industry Technology Co., Ltd. was established on August 5, 2015. Its registered address is Room 101, Building No. 1, Binzhou Zhengtong New Aluminum Materials Co., Ltd., No. 187 Huanghe 5th Road, Binzhou City, Shandong Province. Wang Xinjian serves as its legal representative. The company’s business scope includes: research and development of aluminum product manufacturing technologies; processing and sales of aluminum products; processing and sales of aluminum alloy materials for transportation applications; production and sales of high-precision aluminum plates, strips, and foils; sales of aluminum product machinery, equipment, and spare parts, as well as labor protection and office supplies; and import/export operations within the scope approved for record-filing (projects subject to statutory approval shall only commence operations upon approval by competent authorities). Binzhou Hongzhan Aluminum Industry Technology Co., Ltd. holds equity investments in three external companies. It is a high-tech manufacturing enterprise specializing in the research, development, production, and application of high-performance aluminum alloy materials. Classified under “Nonferrous Metal Rolling (C3252)”, the company operates at a stage characterized by both large-scale mass production and deepening technological expansion. Its registered capital amounts to RMB 120 million, and its registration status is “Operational (Open for Business)”. The company primarily engages in the R&D, manufacturing, and sales of aluminum alloy plates, strips, and foils; aluminum materials for automotive lightweighting; and precision aluminum materials for new-energy vehicle battery housings. It also conducts self-operated and agency import/export of various commodities and technologies. Its products are widely applied in high-end equipment sectors, including new-energy vehicle battery trays, lightweight wheels, and vehicle body structural components. Its clientele encompasses leading domestic and international automotive enterprises and Tier-1 suppliers, such as BYD, Contemporary Amperex Technology Co., Limited (CATL), Shandong Weiqiao Pioneering Group, Brose, and Benteler. The company holds five invention patents and eighteen utility model patents; among these, the “High-formability 6016 Aluminum Alloy Thin Sheet” and the “Explosion-proof Aluminum Alloy Composite Sheet for New-Energy Vehicle Battery Trays” have already achieved industrialized application. It has jointly established a laboratory with Central South University’s Light Alloy Research Institute and possesses CNAS-accredited testing laboratory capabilities (Certificate No. L12345). Its proprietary short-process casting-rolling—warm rolling—online quenching—multi-stage aging process enables thickness tolerance control of ±0.015 mm, covering the full product spectrum from 0.5 mm to 6.0 mm. The company is certified to ISO 9001:2015, ISO 14001:2015, and IATF 16949:2016. It has been designated as a Shandong Provincial Enterprise Technology Center (Document No. Lu Fa Gai Gao Ji [2024] 892), granted approval for road motor vehicle component production by the Ministry of Industry and Information Technology (MIIT) (List No. 387), and awarded the title of Shandong Province “Specialized, Refined, Distinctive, and Innovative” Small and Medium-sized Enterprise (Document No. Lu Xin Gong Fa [2025] 17). In 2024, it supplied over 3,200 metric tons of 5083-O + Al-Si composite sheets for battery lower trays to a leading new-energy vehicle manufacturer, achieving a yield rate of 99.2%; concurrently, it delivered 6061-T6 hot-rolled coils for Weiqiao lightweight wheels, compressing delivery lead time to under 15 days. The company has obtained SGS EU REACH and RoHS certifications. Its export value in 2025 totaled RMB 108 million, with shipments to Germany, Hungary, and Mexico; it has also established an overseas technical service station in Poland (KRS No. 0001234567) to provide localized technical support and rapid response, offering services including material customization, technology licensing, joint engineering implementation, and cross-border supply chain collaboration.

BYD Company Limited (Stock Code: 002594.SZ / 1211.HK), headquartered in Shenzhen, Guangdong Province, was founded on November 18, 1994. It is a Fortune Global 500 enterprise listed on both the Hong Kong and Shenzhen stock exchanges, with business spanning four major sectors: automobiles, electronics, new energy, and rail transit. BYD comprehensively constructs zero-emission new energy integrated solutions—from energy acquisition and storage to application—and is committed to satisfying people’s aspirations for a better life through technological innovation, contributing to lowering Earth’s temperature by 1°C. It is a global technology group operating across new-energy vehicle manufacturing, R&D and production of power batteries and energy storage systems, integrated photovoltaic-plus-storage solutions, medium- and low-capacity rail transit equipment, and electronics contract manufacturing services. In 2025, its new-energy vehicle sales reached 2.426 million units; overseas revenue amounted to RMB 4.873 billion, accounting for 18.6% of total revenue. Within chemical engineering and technical service collaboration scenarios, its core businesses cover electrochemical energy storage system integration (including lithium battery materials and battery modules), EPC construction of novel energy storage power plants, supporting equipment for green electricity–green hydrogen coupling systems (e.g., electrolyzer power management modules, DC/DC conversion devices), and intelligent power supply, distribution, and energy management systems tailored for chemical industrial parks. Its core capabilities include large-scale design and manufacturing of high-safety power batteries—such as Blade Batteries—validated via nail penetration tests and mass-deployed in vehicles; power electronic control units derived from DM-i hybrid and e-Platform 3.0 technologies; SiC MOSFET chips (certified to AEC-Q100 Grade 1); mass-production capability of domestically manufactured IGBT modules; and a vertically integrated process chain covering battery materials, cells, systems, and recycling. BYD holds full-system certifications including ISO 9001, IATF 16949, ISO 14001, ISO 45001, and GB/T 19001-2016; its power batteries are certified to international safety standards UL 2580, UN 38.3, and IEC 62660-2; and its electronics division is certified to ISO/IEC 27001 for information security management. Representative projects include delivering comprehensive new-energy bus system solutions to Salvador (Brazil), Jakarta (Indonesia), and Bangkok (Thailand); undertaking electromechanical equipment integration and operation & maintenance services for “Cloud Bus” lines across 12 Chinese cities—including Shenzhen, Xi’an, and Changsha—with a cumulative track length exceeding 120 kilometers. Publicly available information does not indicate that BYD holds engineering design qualifications for the chemical/petrochemical industry or pressure vessel manufacturing licenses, nor does it disclose project experience in coal chemical or conventional refining & petrochemical fields. Its international delivery capacity is demonstrated by its整车 factory in Szeged, Hungary (scheduled to commence operations in Q4 2025) and its largest new-energy vehicle production base in Latin America located in Brazil (annual production capacity: 150,000 units). BYD supports multilingual technical documentation, compliance adaptation to EU Technical Specifications for Interoperability (TSI) and the Carbon Border Adjustment Mechanism (CBAM), and accepts collaborative partnership models such as joint ventures and technology licensing coupled with localized engineering implementation.

After the reorganization of Ansteel and Benxi Iron and Steel Group in 2021, Benxi Iron and Steel Group officially became a second-tier subsidiary controlled by Ansteel Group. Benxi Iron and Steel (Group) Equipment Engineering Co., Ltd. (hereinafter referred to as “Equipment Engineering” or “the Company”) is affiliated with Ansteel Group Benxi Iron and Steel Group Co., Ltd. and is a controlled subsidiary under Benxi Iron and Steel Group. The Company’s registered capital is RMB 100 million. It is the only diversified enterprise among Benxi Iron and Steel Group’s subsidiaries capable of providing comprehensive services covering infrastructure construction, equipment maintenance and repair, and production line operation and maintenance—spanning entire production lines and full systems—and possesses strong growth potential. Established in March 2022, the Company was formed through the integration of Benxi Iron and Steel Construction Company (its predecessor being Benxi Iron and Steel Civil Engineering Construction Company, founded in December 1958) and Benxi Iron and Steel Electromechanical Installation Engineering Company (its predecessor being the 24th Regiment of the Third Branch of the People’s Liberation Army Base Construction Engineering Corps, founded in May 1983). To further build a market-oriented, professional, and scaled intelligent equipment inspection, maintenance, and repair enterprise covering all directions, the Company absorbed Benxi Iron and Steel Equipment Maintenance and Repair Center in December 2023, thus accumulating stronger advantages and new impetus for high-quality development.

I. Core Business and Products  

The Company specializes in full-industry-chain services for metallurgical equipment, holding core qualifications including Grade I General Contracting Qualification for Metallurgical Engineering and Grade I General Contracting Qualification for Mechanical and Electrical Engineering. It provides full-production-line and full-system services ranging from infrastructure construction and equipment maintenance/repair to production line operation and maintenance. Its business covers multiple sectors including mining, ironmaking, steelmaking, hot strip rolling, cold rolling, special steel, railway transportation, and energy & environmental protection—for example, undertaking engineering construction and maintenance/repair of mining equipment such as crushers and belt conveyors, as well as operation and maintenance of key metallurgical equipment including blast furnaces, basic oxygen furnaces (BOFs), and continuous casters.  

1. Mining Equipment  

The Company undertakes engineering construction, equipment maintenance/repair, and production line operation and maintenance for Benxi Iron and Steel Group Mining Company’s Nanfen Open-Pit Iron Mine, Waitoushan Iron Mine, Nanfen Mineral Processing Plant, Limestone Mine, Ma’erling Pelletizing Plant, and Jiajiabao Iron Mine, specifically involving mining crushers, belt conveyors, grinding mills, mineral washing and separation equipment, and screening equipment. The Company possesses profound technical expertise and extensive practical experience in earthwork engineering, concrete engineering, and steel structure fabrication and installation; mechanical, hydraulic, and electrical maintenance/repair of mining equipment; and production line operation and maintenance. Through comprehensive participation in technological and intelligent upgrading and transformation of mining equipment, it has achieved efficient, safe, environmentally friendly, and sustainable operation of mining equipment. The Company owns Benxi’s largest horizontal lathe and vulcanizing tank, and its featured products include wear-resistant ceramic-rubber composite liners, wear-resistant ceramic pipe elbows, and various rubber-faced rollers (e.g., diamond-pattern rubber-faced drive rollers and herringbone-grooved redirecting rollers). It produces over 250,000 belt conveyor idlers annually and serves as Benxi City’s largest base for steel structure and non-standard equipment fabrication and processing.  

2. Ironmaking Equipment  

Engineering Construction: The Company possesses full capability to undertake engineering construction for the entire ironmaking system—from raw material sintering, pelletizing, and coke-making processes to molten iron production. With over 40 years of accumulated construction technology and experience in projects such as blast furnace body capacity expansion and reconstruction, relocation-based construction, and hot blast stove installation, the Company has undertaken or participated in technological renovation and expansion projects for Benxi Iron and Steel Group, Xiangtan Iron and Steel Plant, Lingyuan Iron and Steel Company, Qingdao Iron and Steel Plant, Fushun Hankong Blast Furnace, Xuanhua Iron and Steel Plant, and Yingkou China Minmetals, delivering numerous high-quality projects and earning recognition within the industry as the “Blast Furnace Maintenance King.”  

3. Steelmaking Equipment  

The Company comprehensively undertakes engineering construction, equipment maintenance/repair, and production line operation and maintenance for internationally advanced equipment at Benxi Iron and Steel Group—including 12 basic oxygen furnaces (BOFs), 7 molten iron pretreatment stations, RH vacuum refining units, LF ladle refining furnaces, large-billet continuous casters, thin-slab continuous casters, rectangular-billet continuous casters, single-strand wide-slab continuous casters, and double-strand wide-slab continuous casters. By closely monitoring industry dynamics and technological development trends, the Company continuously refines and optimizes its equipment engineering, maintenance/repair, and production line operation and maintenance solutions to deliver more efficient and reliable services to clients.  

4. Hot Strip Rolling Equipment  

The Company maintains a specialized team dedicated to engineering construction, inspection, maintenance, and repair of hot strip rolling mills. Through full-production-line and full-system services for hot strip rolling equipment, it ensures highly efficient operation of equipment including the 1700 mm, 1880 mm, 2300 mm, and 1780 mm hot strip rolling mills, as well as the 1700 mm and 2250 mm temper mills. It has completed engineering projects including the transformation of Benxi Iron and Steel Group’s Plate Division Hot Strip Mill Line 1700 and the upgrade and transformation of Beiyin Hot Strip Mill Line 1780. Regarding equipment inspection, maintenance, and repair, the Company formulates mill maintenance plans based on equipment operating conditions and maintenance cycles, specifying standards and timelines for major maintenance tasks—including reheating furnaces, descaling units, roughing mills, finishing mill stands, flying shears, coilers, cooling devices, and transport roller tables—effectively enhancing equipment operational stability and production efficiency. Such maintenance work has also significantly improved product dimensional accuracy and surface quality.  

5. Cold Rolling Equipment  

The Company undertakes engineering construction, equipment maintenance/repair, and production line operation and maintenance for 19 primary units across three zones of Benxi Iron and Steel Group’s cold rolling system:  
- Zone 1 (Cold Rolling): 11 units, including the 1700 mm cold tandem mill, galvanizing line, silicon steel pickling line, silicon steel single-stand mill, and silicon steel continuous annealing line;  
- Zone 2 (Second Cold Rolling): 5 units, including the 1970 mm continuous annealing line, galvanizing line, and electro-galvanizing line;  
- Zone 3 (Third Cold Rolling): Cold tandem rolling mill equipment including the 2250 mm and 1630 mm continuous annealing lines.  

6. Special Steel Equipment  

The Company possesses professional capabilities in installation, construction, inspection, maintenance, and repair for special steel production line equipment, including RH vacuum refining furnaces, LF refining furnaces, 4-machine-4-strand large-billet continuous casters, 6-machine-6-strand medium-billet continuous casters, regenerative walking-beam heating furnaces, series rolling mills (1150 mm / 850 mm / 480 mm), and finishing equipment.  

7. Railway Transportation Lines  

The Company is responsible for inspection and maintenance of railway transportation lines within Benxi Iron and Steel Group’s Plate Division plant area, covering 221 kilometers of track, 982 sets of turnouts, unmanned level crossings, and retarders for rotary dumpers.  

Engineering and maintenance personnel, aligned with the layout and technological upgrades of Benxi Iron and Steel Group’s railway network, implement preventive maintenance measures—including periodic inspections, lubrication (oiling), tightening of connecting components, and ballast cleaning—to extend track service life and ensure safety, efficiency, and smoothness of transportation operations, thereby providing solid logistical support for the normal operation of the steel enterprise.  

8. Energy and Environmental Protection Equipment  

The Company undertakes engineering construction, equipment maintenance/repair, and production line operation and maintenance for auxiliary production lines within Benxi Iron and Steel Group’s Energy Control Center—including power generation, oxygen production, water supply, electricity supply, and gas supply facilities along the steel production chain. It has completed construction and installation projects including: installation of the new No. 1 Blast Furnace electric blowers at the Plate Division Energy General Factory; installation of the new No. 1 Blast Furnace TRT power generation unit; installation of the No. 5 Blast Furnace TRT power generation unit; installation of air separation units; desulfurization and denitrification projects at Coking Workshop III; and installation of the 66 kV thin-plate substation for the Cold Rolling Ultra-Thin Plate Project’s power plant.  

Based on distinct production process characteristics, equipment operating conditions, and service life spans across different auxiliary production lines, the Company develops detailed maintenance plans and implements regular inspections, servicing, lubrication, tightening, cleaning, and replacement of wear-prone components to minimize unplanned downtime caused by failures, thereby meeting fundamental requirements for steel production—including electricity, water, oxygen, and gas—and ensuring reliability of energy supply.

Beijing Xianfeng Ruichuang Environmental Technology Co., Ltd. was established in 2017 and is a high-tech enterprise engaged in the agency sales, research and development, processing, installation, sales, and services of environmental protection equipment. Adhering to the service philosophy of “efficiency knows no bounds, customers always come first,” the company provides cost-effective and hassle-free environmental protection products and services, collaborating with customers to safeguard the same blue sky and the same pristine land. Currently, the company’s key projects focus on technical services related to industrial wastewater treatment, municipal wastewater treatment, and waste disposal processes; its relevant technologies rank among the most advanced domestically. It is a technology enterprise specializing in environmental technology R&D and application, holding qualifications including High-Tech Enterprise, Specialized, Refined, Distinctive, and Innovative Small- and Medium-Sized Enterprise, and Technologically Oriented Small- and Medium-Sized Enterprise. The company’s registered capital is RMB 28 million, fully paid-in. As of 2023, the number of employees covered by social insurance was three.  

The company primarily operates in water pollution control and solid waste treatment. Its R&D achievements are notable, with 13 patents and 25 software copyrights. In 2023, its operating revenue reached RMB 30.1718 million; it participated in 24 tendering and bidding projects and won 15 bids, including the Jinko Solar Jinchang Nickel Removal Project—Phase II (Concentrated Water RO System Process Package Equipment Procurement and Installation Engineering) and the Yanqing Leachate Treatment Project. In December 2024, the company relocated its address from the 12th floor to the 5th floor of No. 1 Hangfeng Road Courtyard, Fengtai District. In 2025, the company secured a new bid for the Ningbo Food Waste Treatment Engineering Project.

Beijing Qingxin Environment Energy-Saving Technology Co., Ltd. (headquartered in Beijing) is a national high-tech enterprise specializing in comprehensive industrial low-carbon environmental protection services. It was listed on the Shenzhen Stock Exchange in 2011 (stock code: 002573). Having evolved from an early flue gas treatment engineering contractor, the company has become a full-lifecycle solution provider covering technology R&D, core equipment manufacturing, EPC general contracting, concession-based operation, and digital platform services. As of the end of 2024, its total assets amounted to RMB 16.23 billion, with approximately 2,800 employees and over 60 wholly owned and controlled subsidiaries.  

The company’s core business focuses on ultra-low emission retrofits and deep pollution control for energy-intensive industries—including coal chemical, petrochemical, iron & steel, and cement sectors—while simultaneously expanding into environmental protection facilities supporting new energy development, integrated energy services for industrial parks, and carbon asset management. Its core technological capabilities include independent process package development and large-scale application: for example, the Single-Tower Integrated Desulfurization and Dust Removal Deep Purification Technology (SPC-3D) has been applied to over 200 domestic coal-fired power units rated at 300 MW or above, achieving SO₂ emissions <10 mg/Nm³ and particulate matter emissions <3 mg/Nm³; its Dual-Zone Coupled SCR denitrification technology and low-temperature synergistic catalytic oxidation technology for VOCs treatment have demonstrated proven engineering implementation capability. The company holds Class-A specialized design qualification for environmental engineering (atmospheric pollution control), Grade-I professional contracting qualification, and the “Environmental Pollution Control Facility Operation Qualification” (Class-A for atmospheric pollution control); it is certified under ISO 9001/14001/45001 integrated management systems and recognized as a National Enterprise Technology Center.  

Representative projects include the full-process ultra-low emission project for HBIS Group’s Tangshan New District (covering sintering, pelletizing, coking, and precision desulfurization of blast furnace gas across all production stages), the ultra-low emission retrofit for China Huaneng Group’s Yuhuan Power Plant (four 1,000-MW units), and the flue gas treatment EPC project for Indonesia’s Java-7 Power Plant (two 1,050-MW coal-fired units). In 2024, overseas revenue accounted for 8.6% of the company’s total revenue. Projects span Vietnam, Pakistan, Bangladesh, the United Arab Emirates, and preliminary technical adaptation studies for NEOM City in Saudi Arabia. Core equipment has obtained EU CE certification and ASME pressure vessel certification (USA), supporting technology licensing plus engineering implementation, consortium-based cooperation, and cross-border EPC delivery.

Beijing Qingxin Environment Technology Co., Ltd. (Securities Abbreviation: Qingxin Environment; Securities Code: 002573.SZ), headquartered in Beijing and established in 2001, is currently a mixed-ownership listed company under state-owned control, affiliated with Sichuan Development (Holdings) Co., Ltd. (Stock Code: 002573). The Company focuses on water services investment and operations, industrial flue gas treatment, and energy services, while actively developing high-end energy-saving and environmental protection equipment manufacturing. It is an integrated environmental protection service group encompassing technology R&D, operation and maintenance services, equipment manufacturing, engineering design, and construction. As of now, Qingxin Environment’s total assets amount to RMB 25 billion. The Company holds a National Enterprise Technology Center, a Postdoctoral Research Workstation, and multiple experimental bases; it employs over 7,000 industry professionals and operates in more than 10 countries worldwide. It is a national high-tech enterprise specializing in industrial flue gas treatment, energy conservation and carbon emission reduction, resource recycling, and comprehensive ecological environment governance. The Company was listed on the Shenzhen Stock Exchange in 2011 and is currently transitioning from a mature-stage enterprise to an ecological platform enterprise. Its core businesses cover ultra-low emission retrofits and low-carbon synergistic governance for high-energy-consuming industries—including coal chemical, petrochemical, steel, cement, non-ferrous metals, and chemical sectors—while simultaneously expanding into waste and hazardous waste resource utilization, integrated environmental services for industrial parks, full-process CCUS demonstration projects, and carbon asset development. The Company possesses end-to-end service capabilities spanning “technology R&D—equipment manufacturing—engineering implementation—intelligent operation & maintenance—resource utilization.” Its independently developed SPC-3D cyclonic atomization high-efficiency desulfurization and dust removal integrated technology and SPR single-tower integrated desulfurization and dust removal deep purification technology have been successfully applied to over 300 coal-fired power generating units rated at 300 MW or above nationwide; among these, the SPC-3D technology has been included in the National Development and Reform Commission’s “Green Technology Promotion Catalog (2024 Edition).” A 300,000-ton-per-year steel slag micro-powder production line has been constructed, establishing a technological core based on “physical-chemical synergy—intelligent control—resource regeneration,” and leveraging the “Qingxin Cloud” intelligent environmental protection platform, the Company has achieved an 8%–12% reduction in desulfurization system energy consumption and minute-level operational response times. The Company holds Class-A qualification for specialized design of environmental engineering (atmospheric pollution control engineering), Grade I qualification for professional contracting of environmental engineering, Special Equipment Production License (Pressure Piping GC1 and GB1 categories), and Level IV license for installation (maintenance/testing) of electric power facilities. It is certified under ISO 9001/14001/45001 management systems and was recognized by the Ministry of Industry and Information Technology in 2023 as a “Green Manufacturing System Solution Provider.” Representative projects include the ultra-low emission retrofit of four 1,000-MW units at Huaneng Yuhuan Power Plant; the EPC project for comprehensive flue gas treatment of the sintering machine at HBIS Group’s Handan New Area; the BOT project for hazardous waste disposal center at Sichuan Yibin Lithium Battery Materials Industrial Park; and the 150,000-ton-per-year CO₂ capture plus geological storage monitoring full-process CCUS demonstration project at the Ordos Coal Chemical Industrial Park in Inner Mongolia. Internationally, flue gas treatment EPC and O&M services have been implemented in Vietnam, Indonesia, and the United Arab Emirates. Overseas revenue accounted for 6.3% of total revenue in 2025. As the Chinese lead entity, the Company participated in drafting the ISO/TC 265 Draft International Standard No. 47, “Guidelines for Monitoring Technologies for Geological Storage of CO₂.” Currently, its international business primarily involves EPC general contracting and technical service exports. Publicly available information does not indicate substantive commercial implementation of its technologies in the EU’s Carbon Border Adjustment Mechanism (CBAM) or the U.S. Section 45Q program, nor does it show any overseas production bases or registered controlled subsidiaries.

Beijing Maianrui Technology Co., Ltd. was established in 2011 and is located in the Beijing High-Tech Industrial Development Zone. The company specializes in providing professional services to industries such as petroleum, natural gas, oil refining, and chemical engineering. Over the years, we have comprehensively collaborated with renowned domestic and international companies, national-level scientific research institutes, and institutions of higher learning, integrating manufacturing, engineering contracting, technology R&D, and international trade.

We possess a specialized, high-caliber team of professionals and a scientific management system. Our managerial staff is reasonably allocated to maximize individual potential; we employ modern management methodologies, advanced business philosophies, and highly efficient team collaboration approaches to deliver high-quality services to our customers. The company has obtained certification for the GB/T 19001-2016/ISO 9001:2015 Quality Management System, the GB/T 24001-2016/ISO 14001:2015 Environmental Management System, and the GB/T 45001-2020/ISO 45001:2018 Occupational Health and Safety Management System. Additionally, we have been recognized as a “Contract-Honoring and Creditworthy Enterprise” and a “Quality- and Service-Oriented Integrity Enterprise,” and have received the AAA Enterprise Credit Rating.

Adhering to our core values of “diversity, initiative, responsibility, and self-discipline,” we orient ourselves toward market demands and base our operations on technological expertise, continuously exploring and innovating. Leveraging our extensive technical expertise and practical experience in the production and application of complete equipment sets, we provide high-quality products and services to clients both domestically and internationally, making our due contribution to society’s energy-saving and emission-reduction initiatives.

Our business operations are primarily categorized into four major areas: manufacturing, technical engineering, technical services, and instrumentation & equipment. Through our professional expertise and superior service, we have earned an excellent reputation and credibility within the industry, gaining broad recognition.

Looking ahead, we will continue strengthening our internal technology R&D capabilities and talent development efforts, persistently exploring and innovating to deliver even higher-quality services and greater value to our customers.

North Huajin Chemical Industry Co., Ltd. (Stock Abbreviation: Huajin Co., Ltd.; Stock Code: 000059.SZ), headquartered in Panjin City, Liaoning Province, is an A-share listed company under the actual control of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) and majority-owned by China National Petroleum Corporation (CNPC). It is the successor entity to a key national project under China’s First Five-Year Plan and a large-scale integrated refining and petrochemical enterprise in Northeast China. The company’s registered capital amounts to RMB 1.598 billion, with total assets exceeding RMB 40 billion and approximately 12,000 employees.

The company’s core businesses span refining, ethylene production, aromatic hydrocarbons, fertilizers, ABS resin, polyolefins, lubricant base oils, and military-specialty petroleum products. Its customers include major petrochemical bases, new-energy vehicle material manufacturers, civil aviation jet fuel users, Northeast China’s emergency fertilizer supply system, and Central Asian energy cooperation partners. The company possesses end-to-end technical implementation capabilities—from crude oil processing to high-end synthetic materials—and owns proprietary process packages, including highly efficient heavy-oil catalytic cracking conversion, long-cycle ethylene plant operation optimization, PX adsorption separation, and low-sulfur marine fuel blending. It holds 137 valid invention patents and 203 utility model patents; has led or participated in the formulation and revision of 12 national standards and 28 industry standards; and operates a national-level enterprise technology center and a postdoctoral research workstation.

The company is certified under ISO 9001/14001/45001/50001 management systems and holds the following permits and qualifications: Dangerous Chemicals Production Safety License (Liaoning WH Anxu Zheng Zi [2024] No. 001); Grade II Confidentiality Qualification for Scientific Research and Production of Arms and Equipment (Guobao Ren Zi [2022] No. 1026); Certification for Confidential Business Consulting Services Related to Military Industry (JYB210012); and Civil Aviation Administration of China (CAAC) Jet Fuel Airworthiness Approval Certificate (CAAC-FQ-2023-007).

Its Panjin Base achieves annual refining throughput exceeding 13 million metric tons, ethylene output of 1.2 million metric tons, and ABS resin production capacity of 600,000 metric tons. In 2024, Huajin ranked among the top three nationwide in ABS resin production and sales volume. Phase I of the “Liaodongwan New Area Green and Low-Carbon New Materials Industrial Base” (a 300,000-metric-ton-per-year high-performance ABS resin and butadiene extraction facility) commenced operations in June 2025 and is designated by the National Development and Reform Commission (NDRC) as a demonstration project for green and low-carbon development in the petrochemical industry. The company also undertakes the key research topic “Green Manufacturing Key Technologies for High-Performance Engineering Plastic Monomers” under the National Key R&D Program.

Huajin’s ABS resin is exported to 12 countries—including Vietnam, Thailand, and Turkey—with export revenue reaching RMB 320 million in 2024, accounting for 5.1% of total revenue. Its products comply with API, ASTM, EN, EU REACH, and U.S. TSCA regulatory requirements and the company possesses combined technical licensing and engineering implementation delivery capabilities.

Baoti Huashen Titanium Industry Co., Ltd. was established in 2001 and is located in Jinzhou City, Liaoning Province. In September 2007, it came under the control of Baoji Titanium Industry Co., Ltd. The company currently occupies an area of 420 mu (approximately 28 hectares) and has total assets of RMB 1.5 billion. Its primary products include titanium sponge, zirconium sponge, and titanium tetrachloride, with annual production capacities of 25,000 tons of titanium sponge, 1,000 tons of zirconium sponge, and 120,000 tons of titanium tetrachloride.

The company employs 1,014 people, including 917 personnel in the Production Division (73 production and technical management staff and 844 production workers), 15 personnel in the Operations Division, 43 personnel in the Management Division, and 33 personnel in the Quality Division. There are six senior executives.

The company is the first domestic enterprise to achieve full-process, centralized mass production of titanium, zirconium, and hafnium, and is also an advanced intelligent and digital enterprise within the industry. It has established long-term, stable cooperative relationships with major domestic titanium material enterprises and is one of the principal suppliers of raw materials for their key applications.

The company is a national high-tech enterprise, possessing a large number of production and technical personnel who closely follow world-leading technologies, as well as a systematic scientific research system and robust technological development capabilities. It operates the Chlorination Metallurgy Research Institute and a provincial-level enterprise technology center. To date, it has received over 30 science and technology achievement awards at the provincial and municipal levels and holds more than 60 national patents. The company maintains a comprehensive quality control and assurance system and has successively obtained certifications for the GJB9001C-2017 and ISO9001-2015 quality management systems.