According to CoinMeta and a press release from Satellite Chemical, on November 11, 2026, the company signed a "Cooperation Agreement for Investment Projects in Xuxu New Area" with the Management Committee of Xuxu New Area. It plans to invest in a new propylene and downstream high-end new materials project in Xuxu New Area, with a total investment of approximately 20.7 billion yuan, of which the first phase is scheduled to cost 12 billion yuan. The project will be constructed in two phases. Once completed, it will have production capacities of 2 million tons per year for propane dehydrogenation, 600,000 tons per year for acrylic acid, 300,000 tons per year for butyl acrylate, and 1.6 million tons per year for polyol. The construction period for the first phase is expected to take no more than three years. This proposal has been approved at the 19th meeting of the company's fifth board of directors and still needs to be submitted to the shareholders' meeting for review.