Director of Binhua Co., Ltd. resigns

Recently, Binhua Co., Ltd. issued the “Announcement on the Resignation of Directors”.

The board of directors of Behua Group Co., Ltd. (hereinafter referred to as the “company”) recently received the resignation report of the company’s director Mr. Wang Liming. Mr. Wang Liming applied to resign from the company’s directorship and other positions in the company because he has retired.

According to the “Company Law” and the “Articles of Association” and other relevant regulations, Mr. Wang Liming’s resignation did not cause the number of the company’s board of directors to fall below the statutory minimum number, and will not affect the normal operation of the board of directors. His resignation report will take effect when it is delivered to the board of directors.
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It is planned to increase the capital by no more than 2 billion, intending to invest in 240,000 tons/year PO and other projects

Previously, on March 1, Binhua Group Co., Ltd. issued the “Prospectus for Issuing A Shares to Specific Objects” (declaration draft), and the total amount of funds proposed by Binhua to be raised shall not exceed 2 billion yuan (including the original number), which will be used for 24 /742,000 tons/year propylene oxide/methyl tert-butyl ether (PO/MTBE) project, new energy chemicals 100,000 tons/year methylamine plant project and supplementary working capital.

PO/MTBE project

Project Address: Lingang Chemical Industrial Park, Beihai Economic Development Zone, Binzhou

Project investment: about 2.5 billion

Project implementation: Shandong Binhua New Material Co., Ltd.

Project technology: Co-oxidation of propylene and isobutane to produce propylene oxide and co-production of methyl tert-butyl ether in Indorama, Thailand

Project duration: 24 months

Project content: After the project is completed, it will increase the production capacity of 240,000 tons of propylene oxide, 742,000 tons of methyl tert-butyl ether, 7,500 tons of acetone, and 0,500 tons of molybdenum oxide. After completion, the production capacity will reach 800,000 tons in the first year %, and reach 100% of production in the next year. the

100,000 tons/year methylamine plant project

Project Address: Lingang Chemical Industrial Park, Beihai Economic Development Zone, Binzhou

Project investment: about 300 million

Project implementation: Shandong Binhua New Material Co., Ltd.

Project process: It is planned to use methanol and liquid ammonia as raw materials to produce methylamine through gas-phase catalytic reaction

Project duration: 24 months

Project content: After the project is put into production, 100,000 tons/year of methylamine will be added, including 55,000 tons/year of monomethylamine, 13,000 tons/year of dimethylamine, and 32,000 tons/year of trimethylamine. After completion, it will reach production capacity of 80% in the first year, 90% in the second year, and 100% in the third year. the

Binhua Co., Ltd. is located in Binzhou City, the hinterland of the Yellow River Delta, at the junction of the three major economic zones: the Shandong Peninsula Blue Economic Zone, the provincial capital city economic circle, and the Bohai Economic Circle. The company has a registered capital of 440 million yuan and more than 2,300 employees. It is the largest supplier of propylene oxide and oilfield additives in the country, the largest supplier of trichlorethylene and an important caustic soda product manufacturer in China, and the earliest oilfield additives in my country. One of the manufacturers of the agent.