On April 27, a grand launch ceremony was held at the Ningdong Base for the construction of Baofeng Energy Storage’s cathode, anode, and electrolyte production facilities, alongside the fourth phase of Baofeng Energy’s olefin and new materials project. This initiative represents a concrete step by the Baofeng Group to implement the spirit of General Secretary Xi Jinping’s important remarks at the symposium for private enterprises, as well as the directives from the region’s third conference on the high-quality development of the private economy and the comprehensive improvement of the business environment. It aligns with the autonomous region’s “Year of Tackling Challenges for Stable Growth and Development” and demonstrates a commitment to developing “new quality productive forces” tailored to local conditions. The event underscores the responsibility and robust capabilities of the Baofeng Group—a leading enterprise in Ningxia and the broader industry—as it remains dedicated to contributing to the nation through the real economy, deepening its roots in Ningxia, and pursuing innovation-driven growth. The projects launched today represent a total investment of 31 billion yuan; once fully completed and operational, they are expected to generate an annual industrial output value of 49 billion yuan and create nearly 10,000 jobs.

Advanced energy storage serves as essential infrastructure for building a modern power system and acts as a critical pillar for the integrated development of AI, computing power, and electricity—aligning perfectly with national initiatives to foster “new quality productive forces.” With an investment of 10.5 billion yuan, Baofeng’s energy storage projects—encompassing an annual production capacity of 250,000 tons of lithium iron phosphate (LFP) cathode materials, 150,000 tons of artificial graphite anode materials, and 170,000 tons of electrolyte materials, as well as 100 GWh of lithium batteries, energy storage systems, and power storage stations—are being accelerated toward completion. These facilities will form a production hub for advanced energy storage materials, anchored in Ningxia and serving the entire Northwest region and the rest of China. This hub will provide a solid foundation for Ningxia’s ambition to become a national comprehensive new energy demonstration zone and a “capital of computing power,” while supporting the development of green-energy industrial parks, large-scale new energy bases, and computing infrastructure. Furthermore, it will facilitate the construction of integrated “generation-grid-load-storage” energy systems, empower the growth of emerging and future-oriented industries, and drive the green transformation of the energy sector. Energy is a matter of national strategic importance, and the coal-chemical industry serves as a vital “ballast” for my country’s energy security. With an investment of 20.5 billion yuan, Baofeng Energy’s Phase IV olefin and new materials project stands as a key initiative in the company’s strategy to "focus on its core business and strengthen its industrial foundation." The project employs the industry’s most advanced process technologies, and all selected equipment and installations are independently developed and manufactured within my country—achieving full domestic substitution and contributing to the national goal of becoming a "manufacturing powerhouse." The project leads the industry in key performance metrics, including energy conversion efficiency, water and energy consumption, and environmental protection standards. Its output further displaces imports, solidifies the company’s position as an industry leader, and serves as a model for the high-end, low-carbon, intelligent, and green development of the coal-based new materials sector—all while making an ever-increasing contribution to safeguarding national energy security.

The energy storage cathode, anode, and electrolyte production facilities, along with the Phase IV olefin and new materials project of Baofeng Energy, will effectively drive the upgrading of Ningxia’s advantageous and emerging industries. These initiatives will inject fresh momentum into the "second venture" and high-quality development of the Ningdong Industrial Base, while further contributing to the creation of a beautiful, modern Ningxia.