According to reports, SHOUGANG LANZA (02553) surged nearly 10% in afternoon trading. As of press time, the stock was up 5.91% at HK$12.54, with a turnover of HK$18.5604 million.
On the news front, in October of this year, SHOUGANG LANZA announced that the company had formally signed a Cooperation Framework Agreement with Sinopec Petrochemical Research Institute Co., Ltd. and Sinopec Ningbo Engineering Co., Ltd.
The three parties will jointly promote the implementation of a bioethanol-to-SAF project in Shizuishan, Ningxia, including advancing the landing of a project producing 50,000 tons per year of ethanol from industrial tail gas and converting it to SAF, jointly tackling new technology for carbon dioxide electroconversion coupled with biofermentation to produce ethanol, and expanding downstream industrial chains such as green ethanol and bio-based ethylene.
The board of directors believes that this cooperation will achieve complementarity between the company's industrialization capability in producing ethanol from industrial tail gas, the core technology of the Petrochemical Research Institute, and the engineering advantages of Ningbo Engineering, driving the company's expansion into high-value-added areas such as green aviation fuel and bio-based new materials, and supporting the "carbon peaking and carbon neutrality" goals as well as the aviation industry's decarbonization process.
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