G The third meeting of the fourth board of directors of the encyclopedia examined and approved the Proposal on Investing and Constructing a Project of Annual Production of 100,000 Tons of Fuel Dimethyl Ether. The motion decided that in order to seize the development opportunities of the coal-based new energy industry, the company plans to invest in and construct a 100,000-ton per year dimethyl ether project in Jingmen, Hubei Province, with a total investment of 109.4 million yuan; at the same time, in order to better reflect the company’s plans to increase The business strategy of coal-based new energy chemical industry investment is to change the company’s Chinese name to “Tianmao Industrial Group Co., Ltd.†and the stock abbreviation will be changed to “G Tianmaoâ€.
Comment: The G encyclopedia is not a whim. The continuous high operation of international crude oil and the country’s high priority for the development and application of alcohol ether fuels have greatly catalyzed the industrialization of our country's alcohol ether fuels and their applications. At present, dimethyl ether has become an alternative fuel for liquefied gas. However, the bottleneck of the industry is still in sight. In the demonstration stage of industrialization, in accordance with relevant state regulations, fuel methanol production plants, additive production plants, fuel methanol blending stations, and fuel methanol filling stations implement fixed-point production and business license management systems. In other words, companies cannot set their own filling stations. In this way, the petrol stations to which Sinopec and PetroChina belonged to monopolize the right to operate Chinese oil products can only be relied on. Therefore, G-Encyclopedia's construction of dimethyl ether project should also be understood as considering its own interests.
In addition, the project also faces risks from other sources: First, if the international crude oil price drops sharply and the price of LPG drops, it will affect the profitability of the project; second, if the main raw material is methanol. The sharp rise in prices will also affect the profitability of the project.
As the largest alcohol and methanol production enterprise in China's Central South Region, G-Encyclopedia produces more than 60,000 tons of methanol annually, and the scale advantage has gradually taken shape. Simply put, methanol is the raw material of dimethyl ether, and its advantage is in the high self-sufficiency rate of raw materials. As a traditional pharmaceutical company, the company’s main product, ibuprofen, has become the country’s No. 1 and No. 3 production capacity in the world. It is also the only domestic Ibuprofen manufacturer that has passed the European COS certification; the company’s existing 300 ton/year soap Its production capacity ranks first in China, and it has become the supplier of the top five large-scale pharmaceutical companies for domestic saponin consumption such as Tianjin Pharmaceutical and Xinhua Pharmaceutical. If the dimethyl ether project is successfully put into operation, the company will implement both chemical and pharmaceutical industries simultaneously, forming four major sectors of heavy chemical, fine chemical, raw material and pharmaceutical preparations.