Befar Group

Befar Group, located in Binzhou City in the hinterland of the Yellow River Delta, is situated at the intersection of the Yellow River Delta High-Efficiency Ecological Economic Zone, the Shandong Peninsula Blue Economic Zone, the Bohai Rim Economic Circle, and the Jinan Provincial Capital City Cluster Economic Circle—the "two zones and two circles" overlay area—endowed with superior geographical location and development space. Founded in 1968 and commencing production in 1970, the Group has undergone fifty years of arduous efforts and innovative breakthroughs, developing into a comprehensive chemical enterprise group with prominent main businesses and a complete industrial chain, covering industries such as salt chemical, petrochemical, fine chemical, thermal power, new materials, new energy, port storage, and finance, with products exported to over 100 countries and regions worldwide. In 2019, Befar Group's total assets reached 20.596 billion yuan, achieving operating revenue of 31.85 billion yuan, realizing taxes and profits of 2.607 billion yuan, and total profits of 747 million yuan. Since 2000, accumulated taxes and profits have totaled 54.183 billion yuan.
The chemical segment of the Group—Befar Group Co., Ltd. (referred to as Befar Group, SH 601678)—has a registered capital of 1.5444 billion yuan and total assets of 11.07 billion yuan, with fifty years of extensive experience in producing caustic soda and propylene oxide, and is an important manufacturer of propylene oxide and caustic soda products as well as a supplier of trichloroethylene and oilfield additives in China. It currently serves as an Executive Director of the China Chlor-Alkali Industry Association. Listed successfully on the Shanghai Stock Exchange in February 2010, it was recognized as one of the "Top 100 Valuable Companies on China's Main Board" in 2018. In 2019, Befar Group achieved operating revenue of 6.164 billion yuan, total profits of 608 million yuan, and taxes and profits of 871 million yuan. The company has been a national benchmark enterprise for energy efficiency of key energy-consuming products for six consecutive years, continuously enhancing its overall competitiveness.
Since the "13th Five-Year Plan," Befar has joined forces with Tsinghua Research Institute, leveraging Befar's fifty years of chlor-alkali production experience and resource advantages, relying on Tsinghua's advanced technology and talent, actively promoting enterprise transformation and upgrading, accelerating the pace of replacing old growth drivers with new ones, and gradually establishing a support platform for transformation and upgrading encompassing talent, technology, capital, and projects. This has inaugurated the prelude to the third entrepreneurial endeavor. The first phase of the Beihai Carbon Three Carbon Four Comprehensive Utilization Project, with an investment of 12.8 billion yuan, is scheduled to achieve full mechanical completion of all units by the end of 2021. Once the first phase reaches full production, it is expected to generate a total output value of approximately 11.8 billion yuan, realizing taxes and profits of 3.23 billion yuan, laying the strategic foundation for Befar to become a world-class supplier of mid-to-high-end functional chemicals, new materials, and new energy. Meanwhile, in implementation of national and provincial strategic deployments, Befar collaborates with Tsinghua Research Institute to extend and build the hydrogen energy industry chain, promote the construction of the "Beijing-Tianjin-Hebei-Shandong Integrated Hydrogen Corridor," create a sustainable hydrogen energy demonstration project, actively strive to become a leading enterprise in the domestic hydrogen energy industry, and make greater contributions to the vigorous development of China's chemical industry.