BAOFENG ENERGY(SH:600989) Nei Meng Gu Ri Bao·2025-04-10 19:54Core Insights - Uxunqi has rapidly improved its ranking among China's western counties, moving from 23rd in 2022 to 18th in 2023, and is projected to enter the top 10 in 2024 [3][4] - The region is transitioning from an agricultural base to an industrial powerhouse, focusing on energy projects to enhance its economic structure and drive high-quality development [4][6] Economic Development - Uxunqi aims to leverage six major projects from companies like China Coal, Sinopec, and PetroChina to extend its energy industry chain and elevate its value chain [4][9] - The region's GDP is expected to reach 60.25 billion yuan in 2024, marking a significant growth trajectory with multiple large-scale projects underway [6][12] Industrial Projects - The Baofeng project is a key player in Uxunqi's industrial landscape, being the largest coal-to-olefins plant globally, producing over 4,000 tons of olefins daily for various markets [5][6] - The project has achieved full domestic production of its equipment, addressing critical technology challenges and setting multiple industry records [5][6] Technological Innovation - Uxunqi is focusing on modern coal chemical technology innovations, aiming for a nearly 20% reduction in energy consumption while promoting green hydrogen and coal chemical integration [6][11] - The region is also working on enhancing its industrial structure by transitioning from fuel-based to raw material-based coal resources [8][12] Project Pipeline - Uxunqi plans to initiate 33 major projects with a total investment of 151.25 billion yuan, targeting significant advancements in industrial chain development and urban integration [12][14] - The ongoing projects include a 100,000 tons/year liquid sunlight project and a 500,000 tons green ammonia demonstration project, which are part of the broader strategy to cultivate new strategic emerging industries [12][14] Chain Effect - The region is experiencing a "chain effect" where individual projects contribute to a larger industrial ecosystem, enhancing overall economic growth [13][14] - Uxunqi's approach emphasizes the importance of project clustering to create new growth points and strengthen the local economy [7][13]