On October 1st, Befar Group (Stock Code: 601678.SH) issued an announcement, stating that Shandong Befar New Energy Co., Ltd., its wholly-owned subsidiary, will take the lead in investing in and constructing the Integrated Source-Grid-Load-Storage Project. With a total investment of approximately RMB 1.421 billion, this project is not only a strategic layout for the enterprise to deepen green and low-carbon transformation, but also will become a domestic demonstration model for the "in-depth integration of the chemical industry and new energy".

Befar Group′s deployment of this integrated source-grid-load-storage project this time is not only a key step in the enterprise′s own transformation and upgrading, but also provides a replicable and promotable practical path for the integrated development of the chemical industry and new energy. As the project officially breaks ground in 2025 and is put into operation subsequently, Befar Group will accelerate the construction of an energy system featuring "diversified supply, intelligent dispatching, and efficient consumption", promote the transformation of traditional chemical industry to green and low-carbon chemical industry, and further consolidate the characteristic development path of "New Energy + Chemical Industry". While contributing to the construction of Shandong Province′s pilot zone for green, low-carbon and high-quality development and serving the national strategic goals of "carbon peaking and carbon neutrality", Befar Group will also take its own practice to lead the new trend of green transformation in the chemical industry.