BASF Greater China achieves record high performance

BASF released the "Greater China Annual Report 2021", which is the 14th consecutive year that BASF has released an annual report in Greater China. Dr. Lou Jianfeng, Chairman and President of BASF Greater China, said that in 2021, BASF's sales in Greater China will reach a record high of 12 billion euros, achieving both sales and sales growth. The company also reduced greenhouse gas emissions from operations for the fifth year in a row while achieving double-digit growth in production.

In terms of corporate investment in Greater China, BASF will continue to expand its local production and R&D footprint in 2021 to better support customers in the fast-growing Chinese market. In 2021, BASF announced the expansion of Yangzi Petrochemical-BASF Co., Ltd., a joint venture with Sinopec based on a 50:50 share ratio, to further leverage the advantages of an integrated base in Nanjing. Another important milestone of BASF in China in 2021 is the establishment of BASF Shanshan Battery Materials Co., Ltd., which further consolidates the position of BASF's battery materials business in Asia and builds a complete battery material supply chain for Chinese and global customers. In terms of construction, BASF's largest R&D hub in the Asia-Pacific region, the third phase of Shanghai Innovation Park, has broken ground and is expected to be completed in early 2023. By then, BASF's total investment in the Shanghai Innovation Park will reach approximately EUR 280 million. In addition, the construction of the Zhanjiang integrated base continues to advance, and the first batch of "Made in Zhanjiang" products will be launched before the end of 2022.

While production has increased significantly, in 2021, BASF's total greenhouse gas emissions from chemical production and operations in Greater China will drop by 4.5% to 1.182 million tons. This is the fifth year in a row that BASF has reduced carbon emissions from its operations in Greater China. In 2021, BASF has ensured that the first units of the Zhanjiang integrated base will be powered by 100% renewable energy; the other five bases in Shanghai and Jiangsu are also participating in the China Green Power Trading Pilot (R-DPP). BASF has also established photovoltaic power plants at several sites across the country.

In terms of social participation projects, in 2021, BASF will invest 350,000 euros in Greater China to improve the quality of life of the community through a variety of social participation projects, create learning opportunities for everyone, and cultivate the concept of sustainable development. The company also cooperated with domestic non-profit organizations to launch the first national employee volunteer beach cleanup action in Greater China.