On January 22, the signing ceremony of Shenglong Chemical Co., Ltd.'s capital increase in Shanxi Shenglong Xintaida Energy Co., Ltd. was held in Shanxi.

It's reported that Shanxi Taida New Energy Co., Ltd. was formally established on January 9, 2020. The two shareholders are Guxian Zhengtai Coal Gasification Co., Ltd. and Guxian Lida Coking Co., Ltd., each holding 50% of the shares, and both are private enterprises. The company completed the project filing on June 30, 2020 with the project site located in the Economic and Technological Development Zone of Linfen Guxian and covering an area of more than 700 acres with an estimated investment of RMB2.2 billion (USD340.27 million). After the project is completed, it can produce 1.92 million tons of coke, 60,000t of tar, 20,000t of crude benzene, 250 million kWh of power generation, 100,000t of methanol, 60,000t of synthetic ammonia, and 100 million cubic meters of compressed natural gas. The project is expected to achieve an annual sales income of RMB4.5 billion (USD696.00 million), a profit of RMB220 million (USD34.03 million), and a tax of RMB360 million (USD55.68 million).

At present, the overall layout of the project has been completed and the site leveling operation is in progress. The pre-project procedures are also being processed in an orderly manner.