China Sanjiang Chemical Shares Surge Nearly 7% Following Naphtha Supply Agreement with Blue Whale Bioenergy

Stock News04-09

China Sanjiang Chemical (02198) rose nearly 7%, with a gain of 6.49% to HK$5.25 at the time of writing, recording a turnover of HK$139.293 million. The increase follows the company's announcement that its indirectly wholly-owned subsidiary, Sanjiang Chemical, entered into a naphtha purchase agreement with Blue Whale Bioenergy on April 2, 2026, after trading hours. The agreement is valid for approximately nine months, ending on December 31, 2026.

Following the commercial operation of the group's sixth-phase ethylene oxide/ethylene glycol production facility, which has an annual capacity of one million metric tons, along with its supporting upstream naphtha/ethane/propane—ethylene/propylene production facilities, the group’s overall annual production capacity has increased by approximately 80%. Naphtha is required as one of the raw materials for the group’s production facilities, specifically the sixth-phase ethylene oxide/ethylene glycol plant and its associated upstream facilities.

The naphtha purchase agreement is established on a non-exclusive basis and will provide the group with an additional source of naphtha supply, further ensuring stable feedstock availability for its production operations.

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