The company plans to invest 1,486 million yuan to establish a wholly-owned subsidiary, Jieyang Kaimet Gas Co., Ltd., to carry out 300,000 tons of high-clean hydrogen peroxide and related gas purification projects. The project will complete the construction of 300,000 tons/year of high-purity food grade carbon dioxide and 300,000 tons/year of industrial and electronic grade hydrogen peroxide and its supporting facilities. The construction period of the project is 2 years.
The company's 2022 incentive plan plans to grant no more than 19.00 million restricted shares to incentive targets, accounting for 3.05% of the total share capital. Of these, initial grants accounted for 2.44% of the total share capital; reserved shares accounted for 0.61% of the total share capital. For the first time, this plan grants incentives to 198 people, including senior management, middle management, core technical personnel, and others deemed necessary by the board of directors. The number of incentive recipients accounted for 28.09% of the total number of employees.
The peak season for food-grade carbon dioxide arrived in the third quarter, and sales gradually increased. Summer is the traditional peak season for food-grade carbon dioxide. The company's products have quality and reputation advantages in the middle and high-end markets. Most of them are long-term cooperative customers such as cola and beer, and prices are relatively stable. Currently, the annual production capacity of high-purity carbon dioxide is 560,000 tons. The production capacity of 100,000 tons in Fujian and 300,000 tons of the Jieyang Phase I project will be added in the future. The company strives to open up market channels for high-end food-grade customers and recoup the loss of sales from industrial customers through the development of a range of food-grade high-end gas applications.
We are actively promoting certification of electronic specialty gas related products, and will be gradually released after certification is passed. The company is actively promoting ASML certification. The company's electronic specialty products are mainly used for lithography and etching in the chip manufacturing process, and the future electronic grade hydrogen peroxide products for the Fujian project will mainly be used in the cleaning process, etc. The company will install a rare gas extraction device on Baling Petrochemical's 90,000 air separators. The company's rare extraction unit will be commissioned, operated and put into operation at the same time as the upstream schedule. After production is put into operation, it will have its own raw gas for the rare gases neon,, and xenon. The company entered the market through cooperation with high-purity rare gases in the early stages, and subsequent laser blends with higher technical content and added value will also be released.