Star Energy has more than ten branches worldwide. Our China Head Office, which is located in Ningbo City, Zhejiang Province, integrates subsidiaries within China and provides services for global trade in asphalt and oil, logistics and warehousing of petroleum products, asphalt deep processing, technology R&D, supply chain finance, information system development, and comprehensive utilization of renewable resources.
Star Energy has one 65,000-ton and one 30,000-ton wharf, four warehousing bases covering an area of 400,000 cubic meters in total, three asphalt modification plants, and one 37,000-ton asphalt ship, with over 300 employees and fixed assets of about RMB 1 billion. In 2020, its turnover reached RMB 16 billion. It is also one of the few private enterprises in China that owns a 3-kilometer deep-water strategic coastline.
Star Energy currently has 6 asphalt warehousing bases under construction or preparation, with a total capacity of 350,000 tons, and 7 asphalt modification plants, and has established a national-level asphalt R&D laboratory. In the future, Star Energy will invest RMB 500 million more to complete its logistics and warehousing layout consisting of three horizontal and one vertical routes in China. After completion of the layout, Star Energy will have a wide network of modified asphalt processing, marking a major step for it to implement the national "the Belt and Road" policy.
By establishing long-term cooperation or joint ventures with transportation investment companies in more than ten provinces in China, Star Energy is heavily involved in the construction of roads at all levels, and fully utilizes its leading advantages in the asphalt market to promote the research and production of high-grade and high-tech asphalt products such as modified asphalt, emulsified asphalt, and special asphalt, and strives to develop the downstream application market of high-grade asphalt.
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Big ships and large warehouses, as well as continuously optimizing logistics have always been the key for Star Energy to seize the market, and Gangxin Dongfang Wharf, located in Beilun District, Ningbo City, Zhejiang Province, is the core of our logistics strategy. Since it was acquired by Star Energy in 2018, Gangxin Dongfang has imported and exported large quantities of oil products from and to Australia, South America, and Africa, Pakistan, Southeast Asia, Fiji, Hawaii, and other markets, owing to its 50,000-ton wharf specific to oil products, storage capacity for multi-type oil products of 310,000 cubic meters, and a planned turnover capacity of 3 million tons per year. It has also become an asphalt export base of Sinopec Zhenhai Refining & Chemical Company. Boasting convenient transportation, Gangxin Dongfang also undertakes domestic oil trade, and uninterruptedly transports fuel oil, diesel that meets China VI emission standard, and other oil products to the markets around Zhejiang Province by land transportation.
Star Energy acquired the former Zhende Environmental Protection Project in 2021 and established Haijing Environmental Technology Co., Ltd., officially breaking into the environmental protection industry. Haijing Environmental, adjacent to the Gangxin Warehousing Base, covers an area of 188 mu (12.53 hectares), with one 5,000-ton and one 1,000-ton wharf and 3-kilometer deep-water coastline. Haijing Environmental has one oily sewage treatment device, one sewage treatment plant, and one waste emulsion treatment device, with a processing capacity of 200,000 tons/year, 30 tons/hour, and 18,000 tons/year respectively. The establishment of Haijing Environmental will further improve the capacity of Ningbo Zhoushan Port Area in providing comprehensive supporting services.
Rizhao Base, established in 1994, is Star Energy's first warehousing base in China, which serves as the transit point for our imported asphalt in Northwest China, with a planned annual turnover capacity of 400,000 tons. In addition to covering markets such as Jiangsu, Shandong, and Henan Provinces, Rizhao Base also transports high-quality asphalt imported from South Korea to the inland markets, including Shaanxi, Gansu, and Ningxia Provinces, through a direct railway line to Lintong District, Xi'an City, which greatly reduces transportation costs.
In order to get closer to the end market and provide end users with professional customized pavement solutions and high-quality asphalt, Star Energy acquired Xi'an Shell Factory in 2016 and established Xi'an Star Warehousing Base.
Xi'an Star Warehousing Base has a professional technology development team and a complete set of imported modified asphalt production facilities, as well as raw material tanks with a storage capacity of 24,000 tons and finished product tanks with a storage capacity of 2,175 tons. The base can produce 1,000 tons of modified asphalt and 200 tons of emulsified asphalt per day, with a planned annual turnover capacity of 400,000 tons. Xi'an Star Warehousing Base can receive high-quality asphalt raw materials from Rizhao base through a special railway line. In 2021, Xi'an base undertook the modified asphalt processing task in the overhaul project of Xi'an Ring Expressway before the 14th National Games, giving the expressway a completely new look.
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