On February 14, Haohua Technology released a major asset restructuring plan. The company plans to issue shares to Sinochem Group and Sinochem Assets to purchase 52.81% and 47.19% of the shares held by Sinochem Lantian. After the completion of this transaction, Sinochem Lantian will become a wholly-owned subsidiary of the listed company. Sinochem indirectly controls 64.21% of the shares of the listed company through China Haohua, a subsidiary of ChemChina, and the actual controller of the company is still the State-owned Assets Supervision and Administration Commission of the State Council.
On the evening of January 31, Haohua Technology announced that the company plans to issue shares to purchase 100% equity of Sinochem Lantian and raise supporting funds. On February 15, Haohua Technology resumed trading after the market opened, and the stock price limit was 49.64 yuan per share after the market opened.
According to Huizheng Information, Sinochem Lantian Group Co., Ltd. (Sinochem Lantian for short) was formerly known as Zhejiang Petrochemical Building Materials Group Co., Ltd. (hereinafter referred to as Petrochemical Building Materials). It was established in August 2000 with a registered capital of 1.526 billion yuan. In June 2008, Sinochem Group signed a capital increase agreement with Zhejiang State-owned Assets Supervision and Administration Commission, and Petrochemical Building Materials became a holding subsidiary of Sinochem Group. In July 2009, Petrochemical Building Materials changed its name to Sinochem Blue Sky. At present, the company's main business is concentrated in the fields of fluorine chemical industry, pharmaceutical distribution, engineering design and so on.
In the field of fluorine chemical industry, Sinochem Lantian has formed a complete industrial chain integrating resource development, research and development, production and sales. , International market share first. It is widely used in automobiles, home appliances, new energy and other fields, and has formed close cooperation with major customers such as Mercedes-Benz, BMW, Midea, Gree, CATL, BASF, and Pfizer. Many products of the company lead the global market share. Zhejiang Research Institute of Chemical Industry, a subsidiary of Sinochem Lantian, was established in 1950. It has two national-level engineering centers, the National ODS Substitute Engineering Technology Research Center and the Zhejiang Base of the National Southern Pesticide Innovation Center.
Haohua Technology is a leading fluorine chemical enterprise in my country, focusing on fluorine chemical business with high-end fluorine materials such as fluoropolymers and fluorine fine chemicals as the core. It has obvious advantages in technological innovation and strong comprehensive competitiveness. Regarding this reorganization, Haohua Technology stated that high-end fluorine materials are one of the core businesses of listed companies and also belong to the main business field of Sinochem Lantian. After the completion of this transaction, the listed company will invest in high-quality assets with strong profitability, which will help the listed company to exert industrial synergy, realize complementary advantages, and improve the profitability, sustainable development ability and overall strength of the listed company.
As early as February 21, 2022, Sinochem China held a business integration kick-off meeting. At the meeting, it was emphasized that the management relationship of Sinochem Lantian Group will be adjusted to China Haohua Chemical Group, and Sinochem Lantian will accelerate its goal of becoming a world-class fluorine chemical enterprise.
Haohua Technology's acquisition of Sinochem Lantian is also closely following the previous work arrangements made by the SASAC. In recent years, strategic reorganization and professional integration have been one of the key tasks promoted by SASAC in recent years.
It is worth noting that Sinochem Lantian actually only started to get involved in the lithium battery industry in 2016, and then quickly entered the main track of lithium batteries through mergers and acquisitions and self-construction.
In 2019, Sinochem Lantian decided to acquire a 4,000-ton/year lithium hexafluorophosphate plant. In the same year, Sinochem Lantian started the construction of a 50,000-ton/year electrolyte factory in Changxing.
In 2020, Sinochem Lantian acquired the electrolyte business of Beihua Institute, injecting technology and talents into the electrolyte strategy. In 2021, the Haitang 2101 project will start smoothly in Chenzhou, Hunan.
That is to say, in 2021, the lithium battery business revenue will account for 25% of Sinochem Lantian's total revenue, becoming the company's growth engine. The company's revenue will increase by 65% year-on-year, and the total profit will increase by 188% year-on-year. The top three in the country jumped to the first in the country.
This time, Haohua Technology acquired Sinochem Lantian to improve its own industrial chain, and at the same time, it will also become the largest company in the entire fluorine chemical industry chain in China.
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