(Hong Kong, 2 November 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, has ignited the third coke oven (Coke Oven No. 4) of its 4.8-million-tonne coking chemical project at its Sulawesi Production Base in Indonesia ("Risun’s Sulawesi Production Base in Indonesia"). This marks another important milestone for the project after the commissioning of the first coke oven (Coke Oven No. 3) on 19 July and the firing of the second coke oven (Coke Oven No. 1) on 27 July. The countdown to production of Coke Oven No. 4 also means that more than half of the project is complete, with an expected production of 2.4 million tonnes of coke.
Built in 2021, Risun’s Sulawesi Production Base in Indonesia is the Group’s first overseas production base to be built in response to the country’s “One Belt, One Road” initiative. The production base aims to replicate and apply the Group’s nine core competencies, built up after 28 years of intensive business development, to overseas projects, helping the Group to establish a world-leading benchmark production base.
Risun’s Sulawesi Production Base in Indonesia is located in Indonesia Morowali Industrial Park in Sulawesi Tengah. Risun Wei Shan New Energy (Indonesia) Company Limited, established by the Group, has constructed a project with an annual capacity of 4.8 million tonnes of coking chemicals in the production base. The project consists of six 66-hole 7.1-meter energy-saving, insulated, high-capacity top-loading coke ovens, each with a capacity of 800,000 tonnes. In addition, the project is equipped with impeccable gas purification capabilities, with advanced equipment, superior geographical location, rich coking coal resources, convenient shipping and logistics, and is also supported by preferential policies on corporate income tax and import duties. Once fully operational, it is expected to produce 4.8 million tonnes of coke, 222,000 tonnes of tar, 63,300 tonnes of crude benzene, 69,600 tonnes of ammonium sulfate, and 870 million cubic meters of coke oven gas per year. The project can provide stable and high-quality energy and fine chemicals for the relevant projects at the Indonesia Morowali Industrial Park, meeting the current and future development needs of Indonesia and promoting the growth of Indonesia's international trade. It also radiates from Indonesia to Southeast Asia and Europe, and its sales areas include Southeast Asia, India, Japan, South Korea and Europe.
At present, China Risun is committed to implementing its “nationwide deployment + global expansion” strategy. According to the Group’s strategic plan, its overseas development is both realistic and long term. It is neither a whim nor a stopgap measure. Moreover, domestic deployment and overseas expansion and development are complementary, coordinated, and inseparable, and both are part of China Risun’s long-term goals.
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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).
