About this Report
This is the seventh independent report released by Hengyi Petrochemical Co., Ltd. It comprehensively and thoroughly discloses the Company's environmental, social, and governance (ESG) information for the year 2025, responding to the concerns and expectations of stakeholders.
Organizational Scope
This report takes "Hengyi Petrochemical Co., Ltd." as the main entity, including its subsidiaries, branches, affiliated institutions, and related organizations.
Reporting Period
This report covers the period from January 1, 2025 to December 31, 2025. Some content may be appropriately extended beyond the stated period according to disclosure needs.
Reporting Standards
This report is prepared in accordance with the requirements of the Shenzhen Stock Exchange's Self Regulatory Guideline for Listed Companies No. 17 – Sustainability Report (Trial) and Self Regulatory Guideline for Listed Companies No. 3 – Preparation of Sustainability Report, and with reference to the Global Reporting Initiative's GRI Sustainability Reporting Standards (GRI Standards) 2021, the International Organization for Standardization's ISO 26000: Guidance on Social Responsibility (2010), and the Ministry of Finance's Application Guide to the Enterprise Sustainability Disclosure Standard – Basic Standard (Trial).
Explanation of Names
For ease of expression and reading, "Hengyi Petrochemical Co., Ltd." is referred to as "Hengyi," "the Company," or "we" in this report.
Data Description
All information and data cited in this report come from the Company's official documents, statistical reports, and financial reports. The material used in this report is provided by Hengyi employees and partners, for the sole purpose of disclosing Hengyi's sustainability management progress and not for commercial use. Any financial data disclosed in this report that differs from the annual report shall be subject to the annual report. Other data are from the Company's internal statistics. Unless otherwise noted, the currency used in this report is "RMB."
Report Access
The Company's Board of Directors approved this report on April 14, 2026. This report is available in both Simplified Chinese and English versions. In case of any inconsistency in content understanding, the Simplified Chinese version shall prevail. You can download this report from Hengyi Petrochemical Co., Ltd.'s website.
Hengyi Official Website: www.hengyishihua.com / CNINFO: www.cninfo.com.cn
Chairman's Statement
Over the past year, we have sharpened our focus on core businesses, creating new advantages across the industry chain. As a global leader in the integrated "refining–chemicals–fiber" value chain, we deepen the coordinated strategy of marine and inland development alongside oil–coal integration. Existing capacity has been operated safely, stably, and efficiently, while major projects drive structural optimization and industrial upgrading, enhancing our balanced, pillar-based integrated industrial structure. During the reporting period, Phase I of our Qinzhou Project in Guangxi successfully entered trial production, while the Hengyi PMB refinery and petrochemical Phase II project in Brunei progressed steadily. All ongoing projects advanced in line with their targets, laying a solid foundation for the Company's long-term development.
Over the past year, we have placed technological innovation at the forefront to unlock new drivers of industrial upgrading. The "Technology-Driven Hengyi" strategy has been advanced with firm momentum, as R&D intensity continued to rise and efforts focused on frontier fields such as green chemicals and the circular economy. We have brought together global innovation resources, strengthened the introduction of high-caliber talent, and steadily enhanced our capabilities in tackling critical core technologies. Sustained efforts in core fields—including chemical recycling of waste textiles and the production of high-quality polyester feedstocks—have accelerated the industrialization of research outcomes. Through these initiatives, technological innovation is powering our shift toward high-end, intelligent, and green development, injecting strong momentum into high-quality growth.