Latest News: Xinri Hengli announced on September 10 that the company’s controlling shareholder, Shanghai Zhongneng, recently signed the “Share Transfer Intention Agreement” with Jintou Xincai, and plans to transfer the subject matter by agreement. Equity transferred to the latter. After the transaction is completed, Jintou New Materials will gain control of the listed company.
Although Jintou Xincai was just established on September 2 this year, it has quite a history. According to the data, Jintou New Materials is a wholly-owned subsidiary of Shouguang Jintou Agricultural Science and Technology Development Group Co., Ltd. (hereinafter referred to as “Jintou Agricultural Science”), and Jintou Agricultural Science is an important state-owned enterprise within the jurisdiction of the Shouguang Municipal Finance Bureau. The enterprise is a whole industry chain enterprise group built by Shouguang City around the “Shouguang Model”. On the basis of the original agricultural industry, the company is committed to technology research and development and technology output, infrastructure construction, foreign investment, and relying on Shouguang’s existing high-end chemical industry advantages to gradually deploy the emerging new material industry.
Only from the official introduction, Jintou Agricultural Science is quite favored in the field of new materials. In recent years, Xinriheng has been striving to transform into the field of new materials, and has achieved certain results. Jintou New Materials, which has a background of local state-owned assets, is obviously optimistic about the company’s advantages in bio-based materials.
Xinri Hengli completed the technical acceptance of the 50,000-ton/year long-chain dibasic acid project in March this year, reaching the intended state of use. On this basis, the company announced in August that it will expand the 50,000-ton/year long-chain dibasic acid and 50,000-ton/year bio-based new material integration projects, focusing on microbial long-chain dibasic acids and long-carbon chain polymers. Technology development, production and management of amides (including high temperature resistance). At the same time, the company plans to upgrade the production technology of the existing long-chain dibasic acid production line to enhance the market competitiveness of long-chain dibasic acid products.
Judging from the announcement, Xinri Hengli did not disclose the number and price of the transferred shares. It said that the specific terms such as consideration, payment method, and delivery arrangements still need further negotiation between the two parties. At the same time, both parties agreed that the validity period of the above-mentioned “Share Transfer Intention Agreement” is 6 months, and the validity period can be extended after both parties agree.
The company stated that after the completion of the transaction, Jintou New Materials will gain control of the company, and it intends to leverage its own advantages and strengthen the complementarity of resources with the company, so as to further increase investment in production capacity, promote product upgrades, improve management levels, and build corporate branding for the company. many conveniences.
In the eyes of industry insiders, since Jintou New Materials has clearly stated that it will provide convenient conditions for the company’s expansion of production and product upgrades, it is not ruled out that it will provide more resources in the future to promote the accelerated transformation and upgrading of listed companies.
