commercialarcadegamesforsale| An explosion at the 100 billion giant Baofeng Energy Methanol Plant killed 2 people and injured 4 people, and was fined many times for safety issues.

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On April 18, an explosion occurred at the methanol plant of Ningxia Baofeng Energy Group Co., Ltd. (Baofeng Energy 600989), resulting in two deaths and four burns. Liu Yuanguan, director and president of Baofeng Energy, said at the performance presentation meeting that afternoon that at present, the emergency treatment of the accident has been completed and the cause of the accident is under investigation. The scope of the accident is limited to this device, other production devices of the company are in normal production, and the order of production and operation is not affected.

Baofeng Energy announced in the evening that at 01:54 on April 18, Baofeng Energy subsidiary Ningxia Dongyi Environmental Protection Technology Co., Ltd. (hereinafter referred to as "Dongyi Environmental Protection") 200000 tons / year coke oven gas methanol plant occurred in the process of emergency repair.CommercialarcadegamesforsaleThere was a flash accident. The methanol production capacity affected by this accident is 200000 tons / year, accounting for 3% of the company's total methanol production capacity.Commercialarcadegamesforsale.4%, the accident has little impact on the normal production and operation of the device and the company.

According to Baofeng Energy disclosure, Dongyi Environmental Protection is a wholly owned subsidiary of Baofeng Energy, located in Ningdong Baofeng Circular economy Industrial Park, Ningxia, mainly engaged in the production of methanol from coke oven gas. The methanol produced by the company is completely internally supplied to the olefin plant, and the raw material is the coke oven gas produced by Baofeng Energy Coking Plant.

Baofeng's share price fell after the accident. As of April 18, Baofeng Energy closed at 16.53 yuan per share, down 2.36% on the day, with a total market capitalization of 121.22 billion yuan.

Baofeng Energy is the leading coal chemical industry in China. It was established in 2005 and listed on the Shanghai Stock Exchange in 2019. The company is located in the core area of Ningdong national energy and chemical industry base of China's energy "Golden Triangle". Its main business is to use coal instead of petroleum to produce high-end chemical products, including methanol from coal, coke and coke oven gas as raw materials, washing raw coal to produce coke, methanol as raw material to produce ethylene and propylene, and then polymerization to produce polyethylene and polypropylene. Production of modified asphalt, pure benzene, MTBE, industrial naphthalene, anthracene oil and other fine chemical products. Among them, coal-to-olefin is the company's core business.

In 2023, Baofeng Energy achieved revenue of 29.136 billion yuan, an increase of 2.48% over the same period last year, and net profit of 5.651 billion yuan, down 10.34% from the same period last year.

Baofeng Energy said in its 2023 annual report that the company's chemical product production and coal mining are dangerous, and there are still unsafe factors such as high temperature and high pressure, flammable and explosive, toxic and harmful gases in the production of modern coal chemical products, as well as gas, coal dust, water damage, fire and other unsafe factors in coal mining. The company has established a relatively perfect production safety management system and safety education and training system, and pay attention to continuous improvement combined with the actual situation, in order to reduce the threat of safety accidents to the environment and personnel.

However, it is worth noting that Baofeng Energy has had a number of safety accidents in recent years.

On March 19th last year, when the driving team of Baofeng Energy Dingjialiang Coal Mine was carrying out roadway maintenance in + 350m transportation roadway, an accident occurred in which the gangue side slipped and injured, resulting in one death and a direct economic loss of 1.88 million yuan.

In the "March 19 General Roof accident investigation report of Dingjialiang Coal Mine of Ningxia Baofeng Energy Group Co., Ltd." published by Ningxia Bureau of State Mine Safety Supervision Bureau, the direct cause of the accident is that the on-site operators have not strictly implemented the system of "knocking and asking the top", and the indirect reasons include inadequate risk control, chaotic on-site management and so on.

Two security accidents occurred one after another in August. According to the Ningdong Energy and Chemical Industry Base Management Committee, on August 7, a nitrogen asphyxiation accident occurred in the joint workshop of Baofeng Energy and methanol Plant during the overhaul of the "first stage inlet separator" of the third phase coke oven gas compressor, resulting in two deaths. On August 8, an employee of the company's cathode material project contractor was cleaning up garbage in the sewage treatment tank when an object strike accident occurred, killing one person.

The accident investigation team of the Safety Committee of Ningdong Energy and Chemical Industry Base in Ningxia determined that Baofeng Energy's "August 7" poisoning and asphyxiation accident was a general production safety accident caused by non-standard safety management in inspection and maintenance operations. Baofeng Energy has violated the production Safety Law because it has not effectively implemented the main responsibility of the enterprise for production safety.

On January 31 this year, a deflagration accident occurred at the fine chemical plant of Ningxia Baofeng Energy Group Co., Ltd., causing minor injuries to two inspectors nearby.

According to the "Ningdong Emergency" Wechat official account, the incident took place in an anthracene oil storage tank in the enterprise's finished product tank area. the tank has a volume of 100m3 and the storage medium is anthracene oil. it is preliminarily determined that the cause of the incident is that the steam coil in the tank is ruptured, causing a large amount of water vapor in the tank to boil abruptly, and flash explosion and fire occurred immediately on the west side of the overpressure tearing tank roof.

Last year, Baofeng Energy announced that it planned to increase 10 billion yuan to expand coal-to-olefin production capacity. Subsequently, an inquiry letter was received from the Shanghai Stock Exchange, questioning the necessity of this investment project and the rationality of capacity planning.

Baofeng Energy and its subsidiaries have 116 administrative penalties from January 1, 2021 to August 31, 2023, according to the announcement in response to inquiries from the Shanghai Stock Exchange.

Thepaper.cn combed found that hundreds of administrative penalties during Baofeng Energy period were mainly due to violations of the Coal Mine Safety regulations and the Safety production Law.

Baofeng Energy said that the administrative penalties suffered during the above-mentioned period have been rectified or are in the process of rectification in accordance with the rectification plan, which meets the relevant rectification requirements and the rectification measures are effective.