Ningxia Baofeng Energy Group (SHA:600989) achieved stable operation of the first series of production lines of Baofeng Energy's Inner Mongolia olefin project.

The start-up of the first series of 1 million tons per year olefin production lines will "lay a good foundation for the smooth commissioning of the second and third series of production lines as soon as possible," the company said in a Tuesday filing with the Shanghai bourse.

Shares of Ningxia Baofeng Energy Group rose 3% in recent trade.