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Xinjiang Zhongtai Chemical commissioned the resource recycling and methanol production upgrade demonstration plant, according to a Shenzhen bourse disclosure on Wednesday.
The Chinese chemical manufacturer said its trial operation was a success in May after the plant produced qualified methanol products.
Zhongtai Chemical built the project through its unit, Xinjiang Zhongtai New Materials.
Xinjiang Zhongtai Chemical said the trial production at its methanol project in Tongxin Industrial Park in Turpan City, China, has been successful.
The facility converts low-value coal byproducts into industrial-grade methanol for BDO (1, 4-butanediol) chemical production, according to a May 10 filing with the Shenzhen bourse.
Xinjiang Zhongtai Chemical incurred net losses attributable to shareholders of 976.5 million yuan or 0.38 yuan per share in 2024, according to a Shenzhen Stock Exchange disclosure on Saturday.
The current losses narrowed from 2.87 billion yuan or 1.11 yuan per share from a year earlier.
The Chinese chemical company earned an operating income worth 30.1 billion yuan, dropping 19% from 37.1 billion yuan in the previous year, the disclosure said.
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