Recently, Redwall announced that it intends to raise funds by issuing convertible corporate bonds to unspecified objects. The raised funds shall not exceed RMB 560.00 million, that is, the issuance shall not exceed RMB 560.00
10,000 bonds, and the net proceeds will be used for the project of Huizhou Hongqiang Chemical Co., Ltd. with an annual output of 320,000 tons of ethylene oxide and propylene oxide derivatives.
This fundraising investment project designs and produces five types of polyether monomers, acrylate hydroxy esters, polyether polyols, nonionic surfactants and polycarboxylate water reducers, among which polyether polyols and nonionic surfactants are the company’s new products. Increasing products is the company’s tentative development goal in the direction of fine chemicals. After this fundraising project reaches production capacity, it can realize the company’s multi-directional layout and improve the company’s overall revenue level.
Redwall shares said that this fundraising project is expected to add polycarboxylate superplasticizer production line and its raw materials polyether monomer and acrylic acid.
The acrylate hydroxy ester production line realizes the expansion of the company’s main product production volume, and provides raw material guarantee for the company’s production of polycarboxylate admixtures, effectively guaranteeing the company’s production efficiency. The main raw materials for the production of polyether monomer and hydroxy acrylate are ethylene oxide and propylene oxide, which are one of the petrochemical products. The implementation site of the company’s fundraising project is Daya Bay Economic Development Zone, Huizhou City, Guangdong Province. This area is one of the seven major petrochemical industry bases that the country focuses on. It also has the ability to produce ethylene oxide and propylene oxide. CNOOC Shell
Chemical Co., Ltd. is one of the few world-class petrochemical enterprises in China, with industry-leading technology and production scale. This time, the company will reach an in-depth cooperation with China Shipping Shell Petrochemical Co., Ltd. to realize the partition wall pipeline transportation of ethylene oxide and propylene oxide resources required for the project to be put into production. The convenient and stable supply of raw materials can effectively improve the company’s production efficiency, ensure the company’s active response to market demand, and enhance the company’s market competitiveness.
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