On May 7, Sinopec News published a signed article by Wei Da, Chairman and Party Secretary of Sinopec Yangzi Petrochemical Company Limited, on the publication’s leading cadre forum. Titled Accelerating the Construction of a Modern Green New Materials and High-End Chemicals Base, the article systematically elaborates on the company’s strategic deployment for high-quality development in accordance with the group’s work conference requirements.
In response to the systematic development plans for the "15th Five-Year Plan" period issued by Sinopec Group, Yangzi Petrochemical has clarified its core development vision of building a modern green new materials and high-end chemicals base. The company firmly underpins the two bottom lines of safety and environmental protection, and fully advances four key battles including overhaul renovation, institutional reform, loss reduction, and high-quality development, striving to write a new chapter in the revitalization of China’s petrochemical industry in the new era.
Faced with heavy annual tasks including full plant shutdown overhaul and the advancement of two major reconstruction projects, Yangzi Petrochemical upholds zero tolerance for safety and environmental risks. The company strictly implements workplace safety production responsibilities and the "three-management and three-implementation" principle, promoting grid-based and list-based refined management at grassroots operation sites, and integrating standardized system management with basic enterprise management work.
To strengthen risk hazard control, Yangzi Petrochemical has improved a full-staff hazard investigation mechanism with supporting incentive policies to enhance the quality and efficiency of risk identification and disposal, and continued to deepen in-process safety supervision. The company optimizes operational risk management by implementing pre-operation safety analysis, and solidifies effective management measures including life-saving safety regulations, ten major blacklist rules, and on-site video supervision.
Adhering to the green and low-carbon development concept, the company advances pollution prevention and control campaigns, carries out comprehensive solid waste management, and steadily promotes the blue sky, clear water, and pure land protection initiatives, aiming to build a national-level green factory. It also vigorously promotes energy conservation and carbon reduction by adopting advanced low-carbon processes, technologies and equipment, taking the initiative in low-carbon transformation and sustainable development.
Yangzi Petrochemical adheres to proactive and meticulous pre-work preparation for the comprehensive plant overhaul. The company optimizes technical schemes, precisely procures materials and equipment, strictly selects high-quality construction teams, and formulates rigorous safety emergency plans to ensure zero risks in the overhaul process.
Guided by the principles of "safety, environmental friendliness, high quality, cost efficiency and one-time successful completion", the company prioritizes safety and environmental protection, focuses on quality and progress control, and implements standardized process management and node acceptance. It adopts standardized task management, grid-based site layout and visual on-site management for all overhaul work, with strict review and acceptance of key links, procedures and equipment to guarantee durable overhaul quality.
The company formulates and implements precise startup schemes, verifies key startup procedures strictly, and ensures all operational links and technical indicators meet standard requirements. Enhanced on-site inspection and emergency duty during the plant startup period guarantee a one-time successful restart of production facilities.
To stabilize operational benefits, Yangzi Petrochemical gives full play to scheduling command functions, strengthens professional support for process and equipment management, and minimizes production abnormalities and unplanned shutdowns to consolidate the fundamental profit base. The company optimizes the whole industrial chain operation following the principle of "prioritizing olefin production for olefin demand, aromatic production for aromatic demand, and oil production for oil demand", maximizing raw material utilization efficiency.
Leveraging digital and intelligent tools, the enterprise optimizes production planning and scheduling coordination to improve cross-industry chain profitability. Market-oriented and customer-centered, it maximizes the effectiveness of sales system reform, accurately judges market trends, and strengthens efficient collaboration among research, production and sales teams. Flexible marketing strategies are adopted to cultivate long-term strategic clients and competitive flagship products.
In terms of cost control, Yangzi Petrochemical adheres to the philosophy of controllable full-cost management. It comprehensively analyzes cost structures and refines the management of key cost indicators including crude oil consumption, fuel and power costs, and maintenance expenses, achieving overall reduction of comprehensive operational costs.
The company further deepens institutional reform and management optimization. It promotes organizational structure reform, optimizes salary distribution systems, performance appraisal mechanisms and staff scale planning, and accelerates the modernization of corporate governance systems and capabilities.
To drive industrial transformation and quality upgrading, Yangzi Petrochemical advances ethylene and aromatic hydrocarbon reconstruction projects to consolidate its core refining and chemical business advantages. It taps the profit potential of existing production facilities, promotes the value upgrading of by-products, and optimizes downstream industrial layout to build low-cost competitive edges.
The company actively advances key upgrading projects including polyethylene powder packaging modification and styrene-butadiene product iteration to cultivate new advantageous industries and profit growth points. It focuses on the R&D and production of high-value differentiated products such as medical-grade PGA (polyglycolic acid) and ultra-high molecular weight polyethylene, accelerating the cultivation of new quality productive forces.
Driven by technological innovation, Yangzi Petrochemical implements standardized project-based scientific research management, builds industry-university-research innovation alliances, and deepens the integration of innovation and industrial chains. It accelerates the transformation of scientific research achievements from laboratory samples to industrial products and commercial commodities, moving steadily toward the high-end of the global petrochemical industrial chain.
Located in Nanjing City, Jiangsu Province, Sinopec Yangzi Petrochemical Co., Ltd. is a wholly-owned subsidiary of China Petroleum & Chemical Corporation (Sinopec). Registered at No. 28, Gaoke 1st Road, Nanjing High-tech Industrial Development Zone, the company has a registered capital of 2.330596654 billion RMB. Its core business covers petroleum refining and the production and sales of hydrocarbon derivatives.
The enterprise operates 43 large-scale petrochemical production facilities, with core production units including an 8 million tons/year crude oil processing unit, a 650,000 tons/year ethylene unit, and a 1.4 million tons/year aromatic hydrocarbon unit. It produces over 7 million tons of annual output covering 44 products in five major categories, including polyolefin plastics, polyester raw materials, rubber raw materials, basic organic chemical raw materials and refined oil products. Its products are widely applied in light industry, textile, electronics, food, automobile, aviation and modern agriculture, generating an annual sales revenue of over 40 billion RMB.
In March 2006, Sinopec launched a comprehensive tender offer for all shareholders of Yangzi Petrochemical Co., Ltd. except itself. After the tender offer, external shareholders held less than 10% of the total share capital. As the equity distribution no longer met stock listing requirements, Yangzi Petrochemical terminated its listing status on the Shenzhen Stock Exchange on April 21, 2006.
On December 22, 2006, Sinopec established a new wholly-owned subsidiary – Sinopec Yangzi Petrochemical Co., Ltd. – in Nanjing High-tech Industrial Development Zone with a registered capital of 5 million RMB. After completing legal merger and industrial and commercial registration changes on July 26, 2007, the company’s registered capital was increased to 2.330596654 billion RMB. All assets, liabilities, businesses and personnel of the original listed company were fully inherited. The new company officially commenced full operational operations under the current name on October 1, 2007.
