Pinghu Petrochemical Co., Ltd., a wholly-owned subsidiary of Satellite Chemical, was established in September 2012. Located in Dushan Port Town, Pinghu, Jiaxing, Zhejiang Province, it has a registered capital of 1.2 billion yuan.
Positioning: Core base of Satellite Chemical's C3 industrial chain (C3), a national-level green factory and high-tech enterprise.
Main Products: Acrylic acid, butyl acrylate, hydrogen peroxide, etc. It is one of the largest acrylic acid production bases in China, with products used in coatings, building materials, textiles, etc.
Capacity: Total acrylic acid and ester production capacity is nearly 1.9 million tons/year, ranking third globally and first in China.
Status: A traditional cash flow pillar of Satellite Chemical, with revenue of approximately 8.9 billion yuan in 2022.
Pinghu Petrochemical: 100% owned by Satellite Chemical (old C3 base).
Lianyungang Petrochemical: 100% owned by Satellite Chemical (new C2 base).
Same parent company, same management system, and both financial statements are consolidated into Satellite Chemical's financial statements.
Division of Labor: One focuses on C3, the other on C2 (dual-engine growth) 🏭 Pinghu Petrochemical (Zhejiang): C3 industrial chain (propane → propylene → acrylic acid and esters), primarily producing acrylic acid and hydrogen peroxide, leaning towards fine chemicals with stable cash flow.
Lianyungang Petrochemical (Jiangsu): C2 industrial chain (ethane → ethylene → polyethylene, ethylene glycol, high-end new materials), primarily producing ethylene, PE, and EO/EG, leaning towards bulk raw materials + high-end new materials, with a larger scale and faster growth.
Geography and Strategy: Dual Bases in the North and South
Pinghu: Close to Shanghai and Hangzhou Bay, serving the East China fine chemical market.
Lianyungang: Coastal in northern Jiangsu, a national-level petrochemical base, connecting with the "Belt and Road" initiative, focusing on C2 + high-end new materials (POE, α-olefins, etc.).
Synergy: Unified raw material procurement, technology sharing, and market complementarity, forming a closed-loop C2+C3 industrial chain.
Focusing solely on the C3 (C3/propane) industry chain, a complete vertically integrated process from raw materials to finished products:
1) Raw Materials: Imported propane (C3) → Propane dehydrogenation (PDH) → Propylene (core intermediate)
2) Main Products (Most Important):
Acrylic acid & butyl acrylate (Core Products)
Uses: Coatings, paints, adhesives, textiles, papermaking, leather, daily chemicals
Position: China's largest and the world's second largest acrylic acid base
Hydrogen peroxide
Uses: Paper bleaching, environmental water treatment, chemical oxidation, electronic cleaning
Small quantities: SAP (superabsorbent polymer, raw material for diapers/sanitary napkins), acrylic ester series
3) Production Capacity (2025):
Total acrylic acid and ester production capacity: Approximately 1.9 million tons/year
Butyl acrylate: 780,000 tons/year (accounting for approximately 19% of the domestic market)
Hydrogen peroxide: Approximately 450,000 tons/year Industry Position: Top three globally and number one domestic acrylic acid production base.
In short: Many key raw materials for coatings, adhesives, and diapers come from Pinghu Petrochemical.
Technology and Environmental Protection:
60+ Patents: Acrylic acid process, wastewater treatment, tail gas recovery, hydrogen peroxide concentration, etc.
Environmental Protection: National-level green factory, resource utilization of wastewater and waste gas, low carbon emissions.
Safety: Benchmark for chemical standardization, full qualification for hazardous chemicals.
Advantages: Lower cost, more environmentally friendly, and higher product purity than traditional petroleum routes.
In short: Not a small chemical plant, but a technologically advanced, environmentally compliant, modern fine chemical plant.
Satellite Chemicals' Role in Satellite Chemicals Group (Most Crucial):
Satellite Chemicals = C2 (Lianyungang) + C3 (Pinghu) Dual-Engine Development
Pinghu Petrochemical (C3) = Cash Cow, Stabilizer, Industry Leader
Projects: Pinghu Petrochemical (Zhejiang), Lianyungang Petrochemical (Jiangsu)
Industry Chain: C3 (C3/Propane), C2 (C2/Ethane)
Core Raw Materials: Propane (Imported LPG), Ethane (US Shale Gas)
Core Products: Acrylic Acid, Acrylates, Hydrogen Peroxide, Ethylene, PE Plastics, Ethylene Glycol
Product Uses: Coatings, Adhesives, Diapers, Textiles, Plastic Bags, Bottles, Films, Antifreeze
