According to the Zhitong Finance APP, Huayi Group (600623.SH) announced that recently, the board of directors of its wholly-owned subsidiary Shanghai Huayi Energy Chemical Co., Ltd. (hereinafter referred to as "Shanghai Energy Chemical") reviewed and implemented the formal shutdown of the Wu Jing base of Shanghai Energy Chemical.

Shanghai Energy Chemical is a wholly-owned subsidiary of the company, primarily producing methanol, acetic acid, hydrogen, synthesis gas, and other products. The shutdown involves the facilities at the Wu Jing base of Shanghai Energy Chemical (methanol designed capacity of 950,000 tons, with a capacity utilization rate of 46.5% in 2024; acetic acid designed capacity of 700,000 tons, with a capacity utilization rate of 70.7% in 2024), which were built earlier. This shutdown is a measure to implement the government's requirements for industrial adjustment and transformation in the Wu Jing area and to achieve industrial carbon peak, aligning with the national "dual carbon" strategic direction. It helps the company further fulfill its social responsibility for green development and promotes the company's green low-carbon transformation. The specific impact of this shutdown on the company's operating data will be subject to the audited financial reports