On March 18, 2026, Risun Group celebrates its 31st anniversary.

Thirty-one years ago, Risun set sail from Xingxiang. Founded in Xingtai in 1995 with the mission of “creating wealth and perfecting life” and the vision of “contributing the utmost to social progress,” Risun has always been driven by entrepreneurship, creativity, and innovation. From its roots in Xingtai, it expanded across Hebei, then beyond Hebei to a national footprint and a global presence, advancing steadily on the path of industrial service to the nation.

For 31 years, Risun people have worked together with a shared dream. With a normal heart, a pure heart, and an unchanging heart, Risun has stayed on the road of entrepreneurship, creativity, and innovation. Today, it has become the world’s largest independent coke producer and supplier, the world’s largest processor of coking crude benzene, the world’s second-largest processor of high-temperature coal tar, the world’s second-largest caprolactam producer, China’s largest producer of phthalic anhydride from industrial naphthalene, China’s largest producer of methanol from coke oven gas, and the largest hydrogen supplier in the Beijing–Tianjin–Hebei region. Risun owns two listed companies: China Risun Group (01907.HK) and Binhai Energy (000695.SZ). With a nationwide layout, a global presence, and coordinated development across multiple business segments, Risun has been ranked among the Top 500 Chinese Enterprises (242nd) and the Top 50 Chinese Chemical Enterprises (35th).

For 31 years, Risun has been moving toward a new future. Through company-wide innovation, comprehensive innovation, systematic innovation, and collaborative innovation, Risun has built a powerful engine centered on its “three types of innovation” (business model innovation, institutional and mechanism innovation, and technological product innovation), guiding the Group toward long-term, sustained, healthy, and stable development.

After 31 years of braving wind and rain, Risun has built a deep foundation for steady operations in a complex and volatile market environment, thanks to its advanced research capabilities, strategic planning capabilities, business strategy capabilities, supply chain capabilities, digital operations capabilities, innovation capabilities, profitability, expansion capabilities, and corrective capabilities. It has forged strong resilience to navigate industry cycles and carved out a distinctive path for high-quality, leapfrog development for a real-economy enterprise.

After 31 years of hardships and journeys, Risun continues to consolidate its leading position in the global energy and chemical industry through its advantages in scale, integration, industrial parks, cost, centralized marketing, R&D and innovation, digitalization and intelligence, safety, environmental protection, quality, and risk control.

Every step of Risun’s growth is engraved with the footprints of struggle and the wisdom of development. On this auspicious day, Risun people celebrate warmly and, with great joy and gratitude, share with friends from all walks of life who have long cared for and supported Risun’s development the story of Risun’s 31-year journey and its progress across mountains and seas. At the same time, along the path of these 31 years, Risun has always maintained a clear awareness of its own survival and growth — believing that for an enterprise, “there is no success, only growth; we must win both the competition and the era.”

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1. Coordinated development across coke, chemicals, new energy, mining, new materials, technology, digital and other business segments.

Risun has established 12 production industrial parks in China and abroad, with business covering 41 countries and regions worldwide. It produces over 80 products in four major categories: coke, chemical products, material products, and energy products. The total production capacity of coal chemical and new material products under operation is 34.2 million tons, including 27.1 million tons of coke and 6.67 million tons of chemical products. A comprehensive, integrated global supply chain covering sales, logistics, production, procurement and R&D has been formed. The business map of nationwide footprint and global expansion has taken initial shape and matured. In 2025, the Group achieved sales revenue of RMB 102.6 billion.

2. China Risun Group, listed on the Main Board of the Hong Kong Stock Exchange, has built two pillar industries — coke and chemicals — that are independent yet interrelated, mutually supportive, complementary, and synergistic. Its coke scale ranks first globally. It also operates several world-leading chemical product lines including caprolactam, benzene hydrogenation, tar processing, and methanol-ammonia.

3. Binhai Energy, an A-share listed company, carries the Group’s strategic deployment for new energy development. Within the year, it will form an integrated capacity of 300,000 tons of anode materials, supported by 580 MW of source-grid-load-storage green power, 2,000 tons of silicon-carbon materials, and 1,000 tons of porous carbon. This continuously strengthens the Group’s ability to drive development through capital, greatly expands the Group’s development space, and enhances its capabilities and strength in product operation, asset operation, and capital operation.

4. Four high-purity hydrogen production bases have been established in Dingzhou, Xingtai, Tangshan, and Hohhot, with a total capacity of 34 tons/day, along with five hydrogen refueling stations with a total refueling capacity of 7 tons/day, forming a full ecological industrial chain of “production – storage – transportation – refueling – utilization + research.” Leveraging China’s major technological breakthrough in large-scale liquid hydrogen production, the first domestically developed hydrogen expansion 5-ton/day hydrogen liquefaction system has been implemented at Risun, completing the construction of a liquid hydrogen demonstration plant and project rollout, with plans to advance a 30-ton/day liquid hydrogen plant.

5. The domestically unique industrial production unit for amino alcohols and the plant for caprolactam-to-hexamethylenediamine, which breaks a technological bottleneck, have been commissioned and reached full efficiency. Together with the successful launch of several self-developed products and proprietary technologies, these achievements have laid a solid foundation for Risun’s transition from large-scale manufacturing to innovation-driven development, effectively breaking the single growth model driven by investment and deepening the Group’s innovative manufacturing development model.

6. The mining segment has reached capacities of 3.6 million tons of coal, 27.2 million tons of coal washing, and 50,000 tons of magnesium metal. It is accelerating the expansion into other mineral resources to enhance profitability and asset returns, providing experience for the Group’s large-scale investment in mineral resources at home and abroad.

7. With replicable, transferable, and digitalizable core competitiveness, Risun provides management services to industry peers. It has offered professional operation and management services to 20 companies in the industry, significantly improving their management level and efficiency. Currently, the managed capacity of coke, chemicals, new energy, and metal materials totals 8.33 million tons, with potential for rapid scale expansion in the future.

8. Focusing on serving the profitability of existing industries and future development, Risun has established a three-tier “Group – Park – Company” independent R&D innovation system. Over 20 research institutes have been set up along product lines, supported by a 1,000-strong R&D team with more than 120 PhDs as core talents. A full R&D industrial chain has been formed: “idea – lab-scale – pilot – engineering design – industrialization.” Systematic R&D on high-precision, high-value-added products has yielded a series of core technological breakthroughs and industrial applications, resulting in 638 proprietary technologies, 703 patents, and 214 software copyrights.

9. With the Group’s continuous upgrade from automation and informatization to digitalization and intelligence, business process standardization and product manufacturing intelligence have been gradually realized. This has further promoted consistency in institutional mechanisms, processes and procedures, governance models, and management models, rapidly improving vertical integration management capabilities, vertical development capabilities, and integrated marketing and operations capabilities. The Group has built the ability for homogeneous rapid expansion of its organization and rapid business expansion, laying a logical and methodological foundation for sustained and healthy growth.

10. The two listed companies under the Group have successively implemented equity incentive plans. China Risun Group announced two employee stock ownership plans on September 1, 2025, and January 22, 2026, granting a total of 14.418 million shares to 797 employees as incentives. Binhai Energy approved a restricted stock incentive plan on January 21, 2026, initially granting 9.6046 million restricted shares to 36 incentive recipients. Through multidimensional and effective measures, the Group continues to deepen the building of a community of shared interests, shared cause, and shared destiny with its managers and employees.

11. The Group has gradually transformed its growth model from market-pulled and investment-driven to service-led and innovation-driven, shifting from scale-oriented manufacturing to innovative manufacturing. With a customer-centric, market-oriented, demand-targeted approach, and driven by customized and differentiated customer needs, Risun has established an integrated operation management model covering sales, logistics, production, procurement, and R&D — moving from the original large-scale manufacturing of “produce whatever is possible and sell it” to a service-oriented manufacturing model of “manufacture whatever is demanded.”

12. Risun has successfully concluded its “Sixth Five-Year Plan” and commenced the full implementation of the “Seventh Five-Year Plan” and the new ten-year development framework. It is further strengthening its core capabilities that combine short-term and long-term perspectives, enabling the Group to set development directions over longer economic cycles and guide its path with longer-term goals. Even in the face of more complex situations, Risun can maintain strategic composure, act more calmly and maturely, continuously break through business boundaries, open up new business tracks, and steadily elevate its strength to new levels.

13. During its development, Risun has completed two major successful closed loops. The first was from 1995 to 1999, achieving a successful closed loop for a single company in terms of business model, development model, operational model, management model, and profitability model. The second was from 2012 to 2015, achieving a successful closed loop for a specialized group in the same dimensions. These two closed loops supported Risun’s steady survival and development for more than two decades. Since the Group’s “Sixth Five-Year Plan” and continuing into the coming years, Risun is now advancing its third closed loop — under the strategy of “multi-mode growth, multi-industry development, and multi-region layout,” and in the context of related diversification, multiple listed companies, and a national and global footprint. This closed loop is more difficult and spans a longer period, but its significance is even more profound. The Group hopes that through this third successful closed loop, it will lay a solid material and spiritual foundation for a century-old Risun.