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(Hong Kong, 9 November 2023)– China Risun Group Limited (“China Risun”, or the “Group”, stock code: 1907.HK), a leading global integrated coke, coking chemicals and refined chemicals producer and supplier and relevant operation management services provider in China, announced today that Coke Oven No.1 of the 4.8-million-tonne coking chemical project (“the Project”) at its Sulawesi Production Base in Indonesia ("Risun’s Sulawesi Production Base in Indonesia") under Risun Wei Shan New Energy (Indonesia) Company Limited has started operation. That is the second coke oven of the Project starting operation, following the first (Coke Oven No. 3) which took place on 19 July. The Project, as of now, affords a production capacity of 1.6 million tonnes per year.
For three months up till now since it started operation, Coke Oven No. 3 of the Project has been running steadily. In the first month of operation, it saw the full “sale, transportation, production and supply” process working smoothly and supplied gas to external parties. In August, the first coke shipment left for Europe and profit was made right after operation began. It reached full production capacity after operating for 2.5 months, and with production of tar and crude benzene of the chemical production system gradually kicking off, the Project has two growth drivers at work. Experience and knowledge accumulated during that period also served well as reference for Coke Oven No.1 on how to ensure steady production, operation and reaching full production capacity quickly. The Group has made a major step in the right direction towards achieving its goals, which are for the Project to provide stable and high-quality energy and fine chemicals to related enterprises at the Indonesia Morowali Industrial Park, meet the current and future development needs of Indonesia and promote growth of Indonesia's international trade, and take the Group’s business from Indonesia to Southeast Asia and Europe, plus, turning from the Group’s first overseas investment project and overseas production base into a world-class high-quality project and a world-leading benchmark production base. From there, via extending, perfecting and strengthening its industrial chain, the Project can become Risun’s first overseas modern circular economy - coal chemical, new energy and new material – industrial base, giving the Group’s business a global network making up of industrial chain, supply chain, customer chain, and sales chain with global reach, a competitive service-oriented system by world standard and a new global coal coke pricing system. The Group will then be able to achieve an essentially and logically highly profitable “sales, transportation, production, supply and research” integrated global development layout, and have a bridgehead armed with Risun Group’s unique competitive strengths to expand overseas.
Also worth mentioning is the ignition of Coke Oven No.4 of the Project took place on 30 October, which means the 4.8-million-tonne Project at the Sulawesi Production Base will soon have three coke ovens in operation and producing by then 2.4 million tonnes of coke a year.
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About China Risun Group Limited
China Risun Group Limited is the world’s largest independent producer and supplier of coke by volume in 2022, according to Frost & Sullivan. China Risun is an integrated coke, coking chemicals, refined chemicals and hydrogen energy products producer and supplier and relevant operation management services provider in China and occupies leading positions in a number of refined chemicals sectors both in China and globally. The vertically-integrated business model together with more than 28 years of experience in the coal chemicals industry production chain has enabled China Risun to further tap the downstream refined chemicals markets and hence diversify its income sources and create greater value.
China Risun has been listed on the main board of the Hong Kong Stock Exchange since March 2019 and is now included in various index series, including the Hang Seng Composite Index, Hang Seng Composite Industry Index – Materials, Hang Seng Composite LargeCap & MidCap Index, Hang Seng Composite MidCap & SmallCap Index, Hang Seng Composite MidCap Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index, Hang Seng SCHK Mainland China Companies Index, Hang Seng SCHK Materials & Industrials Index, Hang Seng SCHK Materials & Industrials (Investable) Index, Hang Seng Large-Mid Cap (Investable) Index, Hang Seng Large-Mid Cap Low Volatility Comprehensive Index, Hang Seng Large-Mid Cap Quality Comprehensive Index, Hang Seng Large-Mid Cap Low Size Comprehensive Index, Hang Seng Large-Mid Cap Dividend Yield Comprehensive Index, Hang Seng Large-Mid Cap Momentum Comprehensive Index, Hang Seng Large-Mid Cap Value Comprehensive Index, Hang Seng Large-Mid Cap Equal Weighted Factor Mix (QVLM) Index and Hang Seng Large-Mid Cap Risk Parity Factor Mix (QVLM) Index and Hang Seng Shipping Index. China Risun is also included in FTSE GEIS: FTSE Global Small Cap Index, FTSE Global All-Cap Index (LMS) and FTSE Global Total-Cap Index (LMSµ).