(Hong Kong, 30 October 2023)– China Risun Group Limited (“China Risun”, or the “Group”, stock code: 1907.HK), a leading global integrated coke, coking chemicals and refined chemicals producer and supplier and relevant operation management services provider in China, announced that the 150,000-tonne/year aniline plant, Phase II of the 300,000-tonne/year aniline plant, operated by its subsidiary Jilin Connell Group (“Jilin Connell”), has extracted qualified aniline products, marking the successful start of operation at one go of the Phase II of the aniline plant and its supporting public auxiliary facilities, plus the kick off of full-scope cooperation between the Group and Jilin Connell Group, part of the Group’s deployment for expanding business in northeastern China.
Production at Phase II of aniline plant resumed half a month after Risun and Jilin Connell Group signed the relevant contract. That testified not only to the efficiency and vigor of the two partners, but also marked an important step made by Risun Group’s team in capitalizing on the Group’s intensive development experience and technologies, personnel and integrated advantages of “sales, transportation, production, supply, and research” to comprehensively operate and manage Jilin Connell Group’s 300,000-tonne/year aniline plant and its supporting public auxiliary facilities, helping optimize production and operation, lower operating expenses and raise operational efficiency. At the same time, Jilin Connell has simultaneously pushed to resume production of the 150,000-tonne/year Phase I aniline plant. When in full production, the plant as a whole will be capable of putting out 300,000 tonnes/year, or RMB4 billion in estimated worth, of aniline and offer more than 600 jobs. The company's aniline product output volume will also top the world by then, which will be yet another success of the Group in implementing its nurturing "a world champion business” development strategy.
Risun Group and Jilin Connell Group had worked closely in formulating an overall construction plan and a maintenance plan detailing each step in the entire process of maintenance and resuming production, setting safety management standards throughout the process, confirming all conditions for starting work were met, ensuring raw materials required to resume production were delivered in advance, and making sure every sections and units involved in production start rolling according to schedule. The partnership originated from Jilin City Government’s investment promotion initiative, and with Risum Group involved in helping Jilin Connell Group resume production of the aniline plant, the latter has had its chemical industrial chain all activated. With compatible product lines, synergistic industrial chains and both having solid foundation in the chemical industry in Jilin City, the two parties signed a strategic cooperation agreement on 13 October 2023 to work and develop together in the future, marrying strengths and through close cooperation to inject new energy into the old industrial base.
In the future, Jilin Connell will press on with operation of Phase II of the aniline plant, while stepping up work to resume operation and production at Phase I of the plant, aiming for the plant to afford full 300,000 tonne/year production the soonest. The Company will also strengthen market research and push for technological breakthroughs in the aniline production process guided by its integrated operation model, continue to optimize all production indicators and management of plant operations, to the ends of realizing maximum benefits and cooperating to achieve win-win.
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About China Risun Group Limited
China Risun Group Limited is the world’s largest independent producer and supplier of coke by volume in 2022, according to Frost & Sullivan. China Risun is an integrated coke, coking chemicals, refined chemicals and hydrogen energy products producer and supplier and relevant operation management services provider in China and occupies leading positions in a number of refined chemicals sectors both in China and globally. The vertically-integrated business model together with more than 28 years of experience in the coal chemicals industry production chain has enabled China Risun to further tap the downstream refined chemicals markets and hence diversify its income sources and create greater value.
China Risun has been listed on the main board of the Hong Kong Stock Exchange since March 2019 and is now included in various index series, including the Hang Seng Composite Index, Hang Seng Composite Industry Index – Materials, Hang Seng Composite LargeCap & MidCap Index, Hang Seng Composite MidCap & SmallCap Index, Hang Seng Composite MidCap Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index, Hang Seng SCHK Mainland China Companies Index, Hang Seng SCHK Materials & Industrials Index, Hang Seng SCHK Materials & Industrials (Investable) Index, Hang Seng Large-Mid Cap (Investable) Index, Hang Seng Large-Mid Cap Low Volatility Comprehensive Index, Hang Seng Large-Mid Cap Quality Comprehensive Index, Hang Seng Large-Mid Cap Low Size Comprehensive Index, Hang Seng Large-Mid Cap Dividend Yield Comprehensive Index, Hang Seng Large-Mid Cap Momentum Comprehensive Index, Hang Seng Large-Mid Cap Value Comprehensive Index, Hang Seng Large-Mid Cap Equal Weighted Factor Mix (QVLM) Index and Hang Seng Large-Mid Cap Risk Parity Factor Mix (QVLM) Index and Hang Seng Shipping Index. China Risun is also included in FTSE GEIS: FTSE Global Small Cap Index, FTSE Global All-Cap Index (LMS) and FTSE Global Total-Cap Index (LMSµ).
