Baofeng Energy announced on the evening of November 25 that the first series of the 1 million tons/year olefin production line of the 3 million tons/year olefin project (referred to as the "Inner Mongolia Project") of its subsidiary Inner Mongolia Baofeng Coal-based New Materials Co., Ltd. has started trial production and successfully produced qualified products.

The Inner Mongolia Project started construction in March 2023, with a total olefin production capacity of 3 million tons/year. It is the largest single-plant coal-to-olefin project in the world so far and also the only project in the world that uses green hydrogen on a large scale to replace fossil energy for olefin production.

After the completion of this project, the total coal-to-olefin production capacity of Baofeng Energy will be significantly increased to 5.2 million tons/year, which is about 2.4 times the current production capacity and will rank first in the domestic coal-to-olefin industry in terms of production capacity.