[Satellite Chemical: Plans to invest approximately 20.7 billion yuan in propylene and downstream high-end new material projects] On November 11, Satellite Chemical (002648.SZ) announced that the company plans to invest in a new propylene and downstream high-end new material project in Xuwei New District, with a total investment of approximately 20.7 billion yuan. The project will be constructed in two phases. After the overall completion, it will form a production capacity of 2 million tons/year propane dehydrogenation unit and 600,000 tons/year acrylic acid unit. The planned investment in the first phase is 12 billion yuan, and the construction period is expected to be no more than 3 years. This investment aims to improve the company's C3 industry chain layout and promote the development of high-end products.