Core Viewpoint - The development of a new hydrogenation process by the Qingdao Institute of Energy, which successfully addresses the bottlenecks in the integrated refining and chemical production of high-temperature coal tar, opens new pathways for coal-to-liquid fuel production [2][4]. Group 1: Technology Development - The newly developed serial hydrogenation process technology overcomes the challenges in deep refining of high-temperature coal tar and the development of high-end chemical products, filling a gap in the domestic production of high-density, low-freezing-point liquid fuels from coal tar [4]. - The technology took seven years to develop, progressing from laboratory research to a pilot scale of 100 tons, with initial catalyst development, process optimization, and product testing completed [5]. Group 2: Technical Specifications - The pilot plant successfully operated on its first attempt, producing liquid fuel with a density exceeding 0.83 g/cm³ and a freezing point below -60°C, making it suitable for transportation fuel and blending components [5]. - The process utilizes non-precious metal catalysts for hydrogenation pretreatment, hydrogenation refining, and selective hydrogenation cracking, enabling the deep conversion of low-quality raw materials rich in polycyclic aromatic hydrocarbons into high-quality, clean coal-based liquid fuels [4].

Core Insights - Daqing Petrochemical aims for high-quality development, achieving significant production and efficiency improvements in the first half of the year, with seven main products exceeding historical output levels and five material consumption indicators reaching record lows [1] - The company has successfully optimized its production processes, balancing crude oil intake and product output, leading to a notable increase in the production of low-congealing diesel and ethylene [1] - Daqing Petrochemical has implemented cost reduction strategies and energy-saving measures, resulting in substantial savings in steam and electricity consumption [2] - The company is restructuring its business to focus on high-profit projects and expanding its market presence, signing 58 external contracts this year [3] Group 1 - The company achieved a production output of 11 million tons of ethylene in June, with MTBE production reaching a historical peak and exports increasing by 32,600 tons year-on-year [1] - Daqing Petrochemical has adopted a comprehensive cost control approach, successfully trialing 31 new production aids and fully replacing imported fluoropolymer aids with domestic alternatives [2] - The company has optimized its electricity usage and steam network, saving 290,000 tons of steam and 7.03 million kilowatt-hours of electricity through various efficiency measures [2] Group 2 - The company is focusing on maximizing project profits by selecting optimal business models and prioritizing major maintenance projects in key regions [3] - Daqing Petrochemical is enhancing its core competitiveness by promoting the application of new technologies in detection and measurement [3] - The restructuring efforts have injected new vitality into the company's development by diversifying its business scope across multiple fields [3]