Photo: Polyvinyl chloride plant of Guangxi Huayi Chlor-Alkali Project

2024-07-04 16:57 Source: China Securities Journal

 China Securities Intelligent Finance Chlor-Alkali Chemical (600618) announced on the evening of July 4 that Guangxi Huayi Chlor-Alkali Chemical Co., Ltd. has recently completed the industrial and commercial change registration procedures, and the 40% equity of Guangxi Chlor-Alkali held by Shanghai Huayi Holding Group Co., Ltd. has been registered in the name of the company. After the transaction is completed, the company holds 100% of the equity of Guangxi Chlor-Alkali and becomes a wholly-owned subsidiary of the company.

According to a previous announcement, the company plans to use its own funds of 685 million yuan to acquire 40% of the equity of Guangxi Chlor-Alkali, a subsidiary of the company, held by Shanghai Huayi. In 2019, Guangxi Chlor-Alkali invested in the construction of a 300,000 tons/year caustic soda and 400,000 tons/year polyvinyl chloride project in Qinzhou, Guangxi. During the construction of the project, due to the company's limited funds, the company's controlling shareholder Shanghai Huayi and the company jointly funded the construction. In November 2022, the Guangxi Qinzhou project was completed and put into production. This equity acquisition will help further enhance the company's control over Guangxi Chlor-Alkali, integrate resources and improve production and operating efficiency. In the long run, it is expected to increase the company's net profit attributable to shareholders of the parent company.

According to the data, Chlor-Alkali Chemical mainly manufactures and sells caustic soda, chlorine and chlorine products, as well as polyvinyl chloride plastic resins and products. The company's annual production capacity of main products is: 1.02 million tons of caustic soda, 720,000 tons of ethylene dichloride, 600,000 tons of liquid chlorine, 200,000 tons of vinyl chloride, and 480,000 tons of polyvinyl chloride. The company has formed two production bases in Shanghai Chemical Industry Zone and Qinzhou, Guangxi. The two places have their own division of labor and key tasks, and they also cooperate with each other and develop in a balanced manner.

#shanghai  #guangxi  #qinzhou  #chloralkali  #pvc  #edc  #vinylchloride  #china