On February 12, Qixiang Tengda received the “Shandong Energy Group New Material Co., Ltd.’s Offer to Acquire Zibo Qixiang” issued by Shandong Energy Group New Materials Co., Ltd. (hereinafter referred to as “Shanneng New Materials”) Notification Letter on the Progress of Tengda Chemical Co., Ltd. According to the notification letter, this tender offer to acquire Shishanneng New Materials as a reorganization investor obtained 80% of the equity of Zibo Qixiang Petrochemical Group Co., Ltd. (hereinafter referred to as “Qixiang Group”) through the reorganization process, and then indirectly controlled Qixiang Group It was triggered by the 45.91% shares held by Qixiang Tengda.
As of the disclosure date of this announcement, this tender offer has been approved by the “Shandong Provincial State-owned Assets Supervision and Administration Commission’s Opinions on Shandong Energy Group New Materials Co., Ltd. Obtaining the Controlling Equity of Qixiang Tengda” (Lu Guozi Yiyi Zi [2022] No. 50). According to the requirements of relevant laws, regulations and normative documents, this tender offer still needs to pass the review of the concentration of operators by the Anti-monopoly Bureau of the State Administration for Market Regulation, and the relevant review matters are still in the normal process.
Shanneng New Materials and related parties are actively promoting various tasks. Shanneng New Materials will promptly notify Qixiang Tengda after obtaining relevant approvals, and when the tender offer conditions are met, the tender offer report will be announced in a timely manner in accordance with relevant laws and regulations.
It is understood that on November 14, 2022, Qixiang Tengda disclosed the “Summary of the Tender Offer Report”, the “Announcement on the Progress of the Reorganization of the Controlling Shareholder and the Court’s Approval of the Reorganization Plan” (Announcement No.: 2022-108), ” Prompt Announcement on the Proposed Change of the Company’s Actual Controller” (Announcement No.: 2022-109), “Informative Announcement on Receiving the Summary of the Tender Offer Report” (Announcement No.: 2022-110). If the “Reorganization Plan” is successfully implemented, the company’s actual controller will change, the company’s controlling shareholder will still be Qixiang Group, the indirect controlling shareholder will be changed to Shanneng New Materials, and the actual controller will be changed to Shandong Provincial People’s Government State-owned Assets Supervision and Administration Commission management board.
According to public information, Shanneng New Materials is a wholly-owned subsidiary of Shandong Energy Group Co., Ltd., and is also the main body of investment and management of Shandong Energy Group’s new material industry development.
Zibo Qixiang Tengda Chemical Co., Ltd. (hereinafter referred to as “Qixiang Tengda”) was established on January 4, 2002 and listed on the Shenzhen Stock Exchange on May 18, 2010. The stock is referred to as “Qixiang Tengda”, and the stock code is : 002408. Up to now, Qixiang Tengda has a registered capital of 1,775.21 million yuan and more than 2,000 formal employees. It has wholly-owned subsidiaries Qingdao Siyuan Chemical Co., Ltd., Qixiang Tengda (Hong Kong) Co., Ltd., and Zibo Qixiang Tengda Supply Chain Co., Ltd. The company and its holding subsidiaries Zibo Tenghui Oleochemical Co., Ltd. and Shandong Qilu Keli Chemical Research Institute Co., Ltd. The company currently has two main factories in Zibo and Qingdao. Among them, the Zibo factory covers an area of 2,295 acres and has three main production workshops: a methyl ethyl ketone factory, a rubber factory, a maleic anhydride factory, and a chemical factory; Five auxiliary units including quality inspection and measurement center, maintenance company, and electrical instrument center. Qingdao Siyuan Chemical Co., Ltd., a wholly-owned subsidiary of the company, covers an area of 230 mu, including a methyl ethyl ketone production workshop and auxiliary production units.
Since its establishment, Qixiang Tengda has been based on the expansion and extension of the carbon four industry chain, and has now formed a complete carbon four component product line. Now it has a designed annual output of 180,000 tons of methyl ethyl ketone (MEK), 150,000 tons of butadiene, 50,000 tons of butadiene rubber, 150,000 tons of maleic anhydride, 200,000 tons of isooctane, and 350,000 tons of methyl tert-butyl MTBE, 100,000 tons of propylene, 30,000 tons of isobutylene, 62,000 tons of tert-butanol, 20,000 tons of carboxylated styrene-butadiene latex, 50,000 tons of disproportionated abietic acid potassium soap and other products. Among them, the leading product methyl ethyl ketone has mastered a number of core production technologies, with a domestic market share of about 46%, and exports accounting for more than 70% of all domestic exports; the maleic anhydride plant adopts the n-butane production process, and its products are exported to many countries and countries. area.
Shandong Energy Group New Materials Co., Ltd. was established in July 2022. It is a new material industry investment platform and management entity established by Shandong Energy Group to implement the layout of the “six main businesses” entrusted by the Shandong Provincial Party Committee and the Provincial Government. The company is headquartered in Zhangdian District, Zibo City, with a registered capital of 3 billion yuan. It has 1 listed company, 2 companies listed on the “New Third Board”, 8 national high-tech enterprises, 20 provincial scientific research and innovation platforms, and a single manufacturing industry. There are 3 champion enterprises, 9 “gazelle” enterprises above the municipal level, and 9 “specialized and special new” enterprises. The business fields are distributed in 4 cities including Zibo, Jinan, Linyi, and Jining, with more than 5,000 employees.
Since its establishment, it has focused on extending the chain, supplementing the chain, strengthening the excellent stock of the chain, and expanding the amount of industrial mergers and acquisitions, establishing a new material industry fund of tens of billions, and launching the construction of the domestic first-class and the first calcium-based new material circular economy industry demonstration park in the province. Glass The fiber production capacity ranks among the top four in the country, and the self-developed high-performance long carbon chain nylon series products fill the gap in the country, and has a leading Internet + industry comprehensive service provider in China.
Based on the new era, new industry, and new journey, the new material company will closely focus on Shandong Energy Group’s vision and goal of accelerating the construction of a clean energy supplier and a world-class enterprise, follow the core values of “safety, innovation, green, responsibility, and excellence”, focus on The development orientation of “building a world-class new material industry group” is to do a good job in stock optimization and incremental leapfrog “two articles”, and to create “four major industries” of calcium-based new materials, high-end chemical new materials, fiber and composite new materials, and optoelectronic new materials Cluster”, build profitability, innovation ability, management level, party building brand, service staff “five first-class” enterprises, and strive to reach 100 billion in output value by the end of the “14th Five-Year Plan”, leading the world in leading industries and first-class domestically.
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