State-owned petrochemical enterprise invests nearly 50 million yuan to enter PEEK track

Maoming Shihua's 500 tons/year PEEK project officially lands

The filing project number to this time is 2609-440902-04-01-637569, the total investment of the project is 49.797 million yuan, and it is located in the Petrochemical manufacturing Park of Maonan District, Maoming City, the plot north of the Maoming Petrochemical Refining Zone.

The project plans to build a 500 tons/year PEEK production plant, which adopts a mature synthesis process, uses fluoroketone, hydroquinone and sodium carbonate as core raw materials, and produces finished items through processes such as polycondensation, refining, drying and tableting. The items strictly meet the national standard GB/T 41873-2022. The project covers an area of 6840.3 square meters, with a construction area of 3650 square meters, and the construction period is from November 2026 to November 2028.

Dual background of state-owned capital and petrochemical sector, prominent location and raw material advantages

The biggest highlight of this project lies in the state-owned capital and petrochemical sector background of the project subject. Maoming Shihua Dongcheng Chemical is a wholly-owned subsidiary of Maohua Shihua, an A-share listed company, and the enterprise is backed by regional state-owned capital and Sinopec manufacturing resources.

The actual controller of the company is the Maoming Municipal State-owned Assets Supervision and Administration Commission, the controlling shareholder Maoming Port Group holds 29.80% of the shares, and Sinopec Maoming Petrochemical is the second largest shareholder, holding 14.75% of the shares. The project is located in the core refining zone of Maoming Petrochemical, relying on the largest integrated refining and chemical base in South China, and has the core advantages of stable raw materials, controllable costs, complete supporting facilities and convenient port logistics.

to a long time, the company has mainly engaged in traditional petrochemical items such as polypropylene, liquefied gaseous, special white oil and ethanolamine. This layout of high-end special engineering plastics PEEK is a key strategic upgrade to the company to get rid of the profit bottleneck of traditional petrochemicals and enter the high-barrier new material field.

Performance continues to recover, new materials have become the core development engine

In terms of performance, the operating status of Maohua Shihua continues to recover. In 2025, the company's operating revenue was 3.108 billion yuan, a year-on-year decrease of 17.23%, and the net profit attributable to the parent company had a small loss. Entering 2026, with the recovery of sector conditions and the results of the company's structural adjustment, the operating revenue in the first half of the year reached 1.777 billion yuan, a year-on-year increase of 20.05%; the net loss attributable to the parent company narrowed to 32.81 million yuan, year-on-year loss reduction of greater than 60%.

The rise in oil prices has driven up the prices and gross margins of chemical items, and the traditional business has recovered steadily, which also provides sufficient funds and manufacturing support to the company to layout high-end new material projects such as PEEK.

Central companies flock to enter the market, and the PEEK track welcomes the upsurge of domestic substitution

At present, the domestic localization process of high-end PEEK materials is accelerating, and many leading central companies have intensively laid out the track, and the sector expansion direction is clear.

Lanhai New Materials under China National Petroleum Corporation is promoting a 300 tons/year continuous process PEEK pilot plant, and plans to launch EPC bidding in the fourth quarter of 2026;

The environmental impact assessment of the 100 tons/year PEEK pilot project of Dezhou Shihua under China National Chemical Corporation was officially accepted in July, and it has successfully entered the high-end PEEK resin field.

With the successive entry of state-owned petrochemical groups and central enterprise giants, coupled with the landing of Maohua Shihua's regional petrochemical leading project, the domestic PEEK production capacity continues to expand, and the pace of import substitution and independent controllability of high-end special engineering plastics has fully accelerated.