On November 18, 2018, Wanhua announced that in order to accelerate the company’s internationalization strategy, it rationally optimized the group’s overseas holding structure and enhanced the company’s comprehensive strength. The company intends to invest US$80 million to establish Wanhua Chemical Singapore Holdings Limited.
Important content reminder:
Name of investment object: Wanhua Chemical Singapore Holdings Co., Ltd.
 Investment amount: US$80 million
1. Outline of foreign investment
(1) Basic situation of foreign investment
In order to accelerate the pace of the company’s internationalization strategy, rationally optimize the group’s overseas holding structure and enhance the company’s comprehensive strength. The company intends to invest US$80 million to establish Wanhua Chemical Singapore Holdings Limited.
(2) This external investment was approved by the 14th interim meeting of the 7th board of directors of the company in 2018, and does not need to be submitted to the general meeting of shareholders for consideration.
(3) This external investment does not belong to related party transactions and major asset reorganization matters. 2. The basic situation of the company to be established
1. Company name: Wanhua Chemical Singapore Holdings Limited (WANHUA CHEMICAL SINGAPORE HOLDING PTE.LTD.) (in the final form Registration shall prevail)
2. Business scope: investment holding (subject to final registration)
3. Registered capital: 80 million US dollars
4. Registered address: Singapore
5. Capital contribution method: principal The foreign investment will be made in full monetary capital.
6. Investor and capital contribution ratio: This external investment is 100% funded by Wanhua Chemical Group Co., Ltd.
3. The purpose of foreign investment and its impact on listed companies
1. Purpose
The company’s establishment of a wholly-owned subsidiary in Singapore is based on the overall consideration of the overall strategic layout of international development.
Further strengthen the company’s global competitiveness.
2. Impact on listed companies
After the establishment of this wholly-owned subsidiary, it will not have a major impact on the company’s financial status and operating results, and there will be no damage to the interests of listed companies and shareholders.
4. Risk analysis of foreign investment
1. Singapore’s laws, policy systems, and business environment are quite different from those in China. Companies need to be familiar with and adapt to Singapore’s legal, business, and cultural environment to avoid the risks of setting up a company and operating in Singapore.
2. This foreign investment is an overseas investment, which still needs to be approved by relevant government departments.
Hereby announce.
Wanhua Chemical Group Co., Ltd. Board of Directors
November 17, 2018
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