Chengzhi shares announced that it plans to acquire 100% equity of Huaqing Chemical through its wholly-owned subsidiary Qingdao Huaqing through equity transfer.
The announcement shows that this transaction constitutes a connected transaction. The main assets of Huaqing Chemical are three parcels of land use rights located in Huangdao District, Qingdao City, with a total area of 351,800 square meters. The nature of the land is state-owned land, and the purpose is industrial land. The agreed payment consideration is 207 million yuan.
After evaluation, the book value of Huaqing Chemical's total assets is 179.5 million yuan, the book value of total liabilities is 15.4789 million yuan, and the book value of owner's equity is 164 million yuan.
Chengzhi Co., Ltd. stated that the company will use its own funds for acquisitions. After completing the above-mentioned acquisitions, the company intends to use the above-mentioned parcels of land as the construction land for the company's investment in the construction of POE projects and ultra-high molecular weight polyethylene projects. This equity transfer will benefit Straighten out the relationship between property rights, unify management rights and ownership, and improve the company's management efficiency and comprehensive profitability.
On August 31 last year, Chengzhi Co., Ltd. announced that in order to further expand the development space in the field of new chemical materials, it plans to invest in the construction of POE (polyolefin elastomer) projects and ultra-high molecular weight The polyethylene project is expected to invest approximately 4 billion yuan and 800 million yuan respectively.
Among them, the POE (polyolefin elastomer) project is expected to have a construction period of 3 years. It is understood that POE is a high-end polyolefin material, which refers to a random copolymer elastomer of ethylene and high-carbon α-olefins. It has good physical properties and low-temperature performance, has dual characteristics of plastic and rubber, and has excellent comprehensive properties. Therefore, POE can be regarded as a bridge product between plastic and rubber.
Applications such as photovoltaics and automobile lightweight have driven the rapid growth of POE demand. Since the current consumption of POE in my country mainly comes from imports, it has seriously affected the production profits of related companies in the automotive industry and material modification fields that consume this product in China. It is urgent to promote Localization of POE materials.
"POE, as a high-end polyolefin material, is difficult to produce, has high barriers, and there are restrictions on raw materials. Industrial production has not yet been realized in China." Song Qinghui, founder of Qinghui Think Tank, told reporters.
The relevant person in charge of the company said, "The company plans to introduce technology companies to independently develop catalysts, combine mature polybutene technology, develop related technologies and transfer them to the outside world, so as to promote the localization of POE materials."
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