In the early morning of the 18th, an explosion occurred suddenly at the methanol plant of Ningxia Baofeng Energy Group Co., Ltd. (Picture source: Internet picture)
[WatchChinaNewsonApril192024](Watch comprehensive report by Chinese reporter Li Xiaokui) In the early morning of the 18th,NingxiaA sudden incident occurred at the methanol plant of Baofeng Energy Group Co., Ltd.explodeThe incident resulted in 2 deaths and 4 injuries.It is understood that 8 monthsBaofeng EnergyThree safety incidents occurred in succession.
According to a report by Xinhua News Agency on the 18th, in the early morning of the same day, an explosion occurred at the methanol plant of Ningxia Baofeng Energy Group Co., Ltd. (referred to as Baofeng Energy), a company in the high-efficiency coal-based new materials industry with a market value of 100 billion, resulting in 2 deaths and 4 burns. , one person was seriously injured and three were slightly injured. The fire at the scene was extinguished at about 3:40 a.m.
Liu Yuanguan, director and president of Baofeng Energy, said in the afternoon that the unit where the explosion occurred was a subsidiary of Baofeng Energy. The cause of the accident was a leakage of conversion gas from the methanol production unit, and a “flashover accident” occurred during the repair process. Cause of the accident is being investigated.
In the afternoon of the same day, Baofeng Energy’s stock price fell sharply at the opening, falling more than 4% within 1 minute and falling 1.77% as of 2 p.m. As of the close on the 18th, Baofeng Energy fell 2.36%, with a market value of 121.220 billion yuan.
According to the official website of Baofeng Energy, the company’s market value exceeds 120 billion yuan. The company is an A-share main board listed company; it invested 72.7 billion yuan to build a modern coal chemical industry cluster in Ningdong, Ningxia, a national energy and chemical industry base, with an annual production capacity of 8.1 million tons of coal. , 7 million tons of coke, 14.6 million tons of coal washing, 7.4 million tons of methanol, 3.46 million tons of olefins, and 1.35 million tons of fine chemical projects.
Baofeng Energy’s 2023 annual report shows that its methanol business revenue was 1.334 billion yuan. At the 2023 annual report conference call, the company revealed that the three phases of projects put into operation last year achieved a total profit increase (gross profit) of 634 million yuan, of which olefins increased profits by 413 million yuan and methanol increased profits by 221 million yuan.
Ningxia entrepreneur Dang Yanbao is the actual controller of Baofeng. According to public information, Dang Yanbao was born in 1973. The starting point of his entrepreneurship may be traced back to 1999 when he served as the general manager of Lingwu Tianli Trading Co., Ltd. After that, Dang Yanbao briefly participated in the building materials business, and focused on the business after 2005. In the energy field, according to Baofeng’s external publicity, the company has since focused on the innovation path of “high-end, integration, scale, and product differentiation” in the modern coal chemical industry.
In addition to Baofeng Energy, Baofeng New Energy, another Baofeng company engaged in photovoltaic power station operation business, has also started listing work and has been receiving listing guidance from CITIC Securities since the beginning of 2021. However, the reporter was unable to inquire about the progress of the company’s listing.
In February this year, the Ningxia Ningdong Energy and Chemical Industry Base Management Committee adjusted and determined the key fire safety units and high fire risk units in 2024. Among them, Baofeng Energy Methanol Plant No. 1 and Methanol Plant No. 3 are on the list.
But it is worth noting that in the past eight months, Baofeng Energy has had at least three safety accidents.
At 9:02 pm on January 31, 2024, a deflagration accident occurred at the fine chemical plant of Ningxia Baofeng Energy Group Co., Ltd., injuring two inspection personnel near the scene.
On the evening of January 31, a fire broke out at the Ningdong Energy and Chemical Base in Lingwu City, Ningxia. An orange mushroom cloud soared over the factory, and the sky was illuminated by red light. pic.twitter.com/Pudup5jcPj
— 武文行wenxingwu (@wuwenhang) February 2, 2024
According to footage from the scene at the time, a mushroom cloud-shaped fireball appeared in the sky after the explosion. Mushroom clouds are usually produced by high-energy explosions, which can generate large amounts of heat and pressure, enough to cause the surrounding gas to rapidly expand and rise to high altitudes. Take the explosive trinitrotoluene (TNT) as an example. Under normal circumstances, a mushroom cloud may only form when the explosion yield reaches tens of thousands of tons or more of TNT.
At about 2:50 pm on August 7, 2023, a nitrogen suffocation accident occurred during the maintenance work of the “first-stage inlet separator” of the third-phase coke oven gas compressor in the joint workshop of Baofeng Energy Methanol Plant No. 1, resulting in the death of two people.
At about 8:30 on August 8 the next day, an employee of the Baofeng Energy Cathode Materials Project contractor was cleaning up garbage in the sewage regulating tank when an object struck him, killing one person.
Baofeng Energy’s recent issuance material disclosure shows that from January 1, 2021 to February 29, 2024, Baofeng Energy and its subsidiaries have 120 administrative penalties, and a total of 90 administrative penalties related to safety production, including 86 items were violations of laws and regulations related to coal mine safety production, and 4 items were administrative penalties due to production safety accidents.
But what is somewhat surprising is that Baofeng Energy’s safety production expenses in 2023 will be 36.8106 million yuan, an increase of more than 150% from 14.3548 million yuan in the same period last year.
Source: Look at China
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