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China Risun and Alibaba Cloud Sign Coking Chemical Industrial Internet Strategic Agreement

Copy From:Risum Author:whzx Date:2019/8/14 13:44:04

China Risun Group Limited (“China Risun”, or the “Group”, stock code: 1907), and Alibaba Cloud Computing Co. Ltd. (“Alibaba Cloud”) have held the Coking Chemical Industrial Internet Strategic Cooperative Agreement signing ceremony today. According to the cooperative framework agreement and guided by the principle of realizing “complementary advantages, mutual benefits, sincere cooperation and joint development”, the parties intend to seize the opportunities arising from the strategic significance placed by the PRC on information security and localization, closely collaborating with China Risun’s industrial Internet platform as the core. They will commence extensive cooperation in such areas as cloud computing, Big Data, industrial IOT, smart manufacturing, trading, finance and AI so as to promote mutually beneficial development in related sectors.

Listed on the Main Board of the Stock Exchange of Hong Kong on 15 March of this year, according to its prospectus and 2018 annual report, China Risun is a leading enterprise group engaged in four main business segments, namely coke, [refined chemicals/chemical products], trading and operational management service. According to Frost & Sullivan, China Risun is the world’s largest independent producer and supplier of coke, the world’s largest coking crude benzene processor, the world’s fifth-largest coal tar processor, as well as the largest producer of coke-oven-gas-based methanol and industrial-naphthalene-based phthalic anhydride in China.

On the back of Alibaba’s strong technological capability and business background, Alibaba Cloud boasts a team of domestic and overseas cloud computing experts to develop China’s first cloud computing platform with its own intellectual property rights. Its aim is to develop a leading cloud computing services company. In January 2017, Alibaba served as the official “Cloud Services” and “E-commerce Platform Services” partner of the Olympic Games and Alibaba Cloud is to provide cloud computing and AI technology services to the Olympic Games.

The cooperation between China Risun and Alibaba Cloud will harness the opportunities arising from the Industrial Internet and adhere to the theme of promoting innovative development of the manufacturing industry. To enhance quality and efficiency and follow the high-end development strategy, it will push forward the integrated application of the Industrial Internet throughout all workflow procedures, along the whole industrial chain and all aspects in the coking and chemical industry, and promote the use of digital and intelligent technologies in manufacturing processes. This is aimed at developing a comprehensive Industrial Internet platform and digital platform. These platforms will enable China Risun to expand its business presence nationwide through pursuit of various growth approaches, developing business in multiple industries and mapping out a multi-regional layout

According to the agreement, their cooperation aims at three main objectives. The first is to build an Industrial Internet platform for China Risun, through which to replicate its advanced technologies, experience, and outstanding management to other park zones, and companies with which it merges, acquires or manage. With the Industrial Internet as the core, the cooperation is to apply technologies including cloud computing, IoT and Big Data to the Group’s production operations. It is also optimising the supply chain of China Risun and linking upstream and downstream suppliers and customers, in order to enhance overall competitiveness of the production chain. Secondly, the alliance plans to build up core digital products and the competitiveness of Beijing Risun Information Technology Co., Ltd.This includes two major product platforms of the Industrial Internet and digitized supply chain. It will also assist in the deployment of an Industrial Internet platform for the coking chemical industry with intellectual property rights for its application and digitized products, so as to set up the systems and teams for product development and optimization, based on the application and digitized operation of Industrial Internet platforms. Thirdly, the two parties aim to serve the coking chemical industry and capitalize on China Risun’s digitalization capability through its Industrial Internet platform.

The cooperation marks an important initiative to implement China Risun’s strategies for the “application of and empowering other industries with its coking chemical industrial internet platform” and “promoting the sustainable development of China Risun through digitalization,” with the aim to bring the core competitiveness of the Group to the next level.

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