Citic Guoan Chemical Co., Ltd. was established in September 2010, located in the South Chemical Industrial Park of Chengguan Town, Dongming County, Shandong Province, with a registered capital of 500 million yuan. It is a state-controlled limited liability company, currently employing 268 people, occupying 264,000 square meters, with 1,000,000 square meters reserved for future development. Business scope: production and sales of ethylene tar, styrene tar, residue oil, furfural extract oil, fuel oil (flash point greater than 60°C), wax oil, paraffin, asphalt, plasticizers, petroleum resins, slurry, light aromatics, heavy aromatics, pyrolysis distillate oils, and rubber softeners, etc. Major facilities constructed include: a 100,000 tons/year ethylene tar comprehensive utilization unit, a 70,000 m³ storage tank area, and supporting utilities such as water, electricity, gas, and air. The second phase, which is under construction, includes a 200,000 tons/year mixed aromatics hydrogenation unit, expected to be completed and put into operation by December. Regarding the production facility, the 100,000 tons/year ethylene tar comprehensive utilization unit uses ethylene tar, a byproduct from ethylene producers, as its raw material. Currently, 90% of ethylene tar is used for blending marine fuels, boiler fuels, and fuels for ceramic and glass industries. The company's facility employs proprietary technology developed in-house to produce market-demanded products such as petroleum resins, naphthalene, heavy aromatics, and plasticizers from ethylene tar, fully realizing the comprehensive utilization of ethylene tar. This represents a model of waste utilization, circular economy, independent innovation, and turning waste into treasure, being the first set of equipment in China capable of completely utilizing ethylene tar. The 200,000 tons/year mixed aromatics hydrogenation unit mainly deep hydrogenates the mixed aromatics produced in the first phase along with other hydrogenation feedstocks to produce high-value-added refined aromatics #1, #2, and #3, widely used in high-grade coatings and high-cleanliness fuels, among others. For industrial development planning, 1. Warehousing and Logistics: By 2020, three large-scale port, wharf, and warehousing logistics bases will be built domestically, operated internationally, and have independent import and export rights. 2. New Materials and New Energy Industries: In future investment and development plans, the company will focus on special materials and new energy as one of its leading industrial directions, positioning itself to build high-standard, differentiated synthetic rubber and green energy industries. Targeting the structural supply shortage in China's rubber industry, it will concentrate on producing urgently needed and scarce varieties. The construction of the special rubber industry will follow a phased development approach based on existing industrial foundations and secured technology sources. Initially, projects for the preparation of diols from methanol and ethylene propylene rubber will be launched. The methanol to diols project was initiated in the first half of 2014, followed by the ethylene propylene rubber project in the second half. By the end of the 13th Five-Year Plan (2020), Citic Guoan Chemical's industrial plan aims to complete a total investment of 17.5 billion yuan, achieving an additional annual sales revenue of 38.18 billion yuan, a total tax and profit of 8.24 billion yuan, and a profit of 4.92 billion yuan.