Sinopec Corp.(SH:600028) Zheng Quan Ri Bao·2025-10-15 15:48Group 1 - China Petroleum & Chemical Corporation (Sinopec) has established a new subsidiary, Sinopec Recycling Technology Co., Ltd., focusing on recycling and circular economy initiatives [1] - The registered capital of Sinopec Recycling Technology is 200 million yuan, fully owned by Sinopec's subsidiary [1] - Sinopec has previously engaged in circular economy efforts, including its 20% stake in China Resources Recycling Group, which focuses on waste plastic recycling [1] Group 2 - Sinopec initiated the Plastic Circular Economy Green Action Alliance in 2021, collaborating with 23 organizations to enhance recycling efficiency and develop chemical recycling technologies [2] - The company has achieved industrial production of biodegradable plastics, including PBST, PBAT, and PBSA [2] - Major petrochemical companies are increasingly investing in circular economy initiatives, with examples including Shanghai Leju Technology Co., Ltd. receiving investments from Sinopec and other industry players [2][3] Group 3 - Leju Technology, founded in 2018, focuses on recycling, circular logistics, and smart equipment, creating a closed-loop ecosystem for plastic waste [3] - The business model of Leju Technology aligns with petrochemical companies' needs for sustainable packaging solutions, especially in meeting carbon emission standards for exports [3] - The shift towards circular economy practices is seen as essential for petrochemical companies to meet ESG goals and customer demands [3][4] Group 4 - The promotion of waste recycling and circular utilization by petrochemical companies reduces reliance on crude oil and aligns with low-carbon development goals [4] - Establishing a closed-loop system enhances resource utilization efficiency and extends the industry chain [4] - Continuous technological advancements and supportive national policies are expected to drive sustainable development in the circular economy [4]