Crazy Hit 77 Billion 500 Million In Lianyungang Jian Da Petrochemical Refining Sheng Hong Petrochemical, And Spent 11 Billion Buy Dan Technology.

The chemical trading company of dandy chemical company (hereinafter referred to as "Dan Hua Technology") disclosed the trading plan in June 13th. The company intends to issue A shares to all shareholders of Jiangsu Sibon Petrochemical Company (hereinafter referred to as "Sibon") at the price of 3.66 yuan / share, and purchase 100% stake in Sri LANN. After this spanaction is completed, Sheng Hong petrochemical and its concerted action Bo Hong industry will hold about 63.86% of the company's shares. Sheng Hong Petrochemical Company is the controlling shareholder of the listed company. Miu Hangen and Zhu Hongmei are the actual controllers of the company.

According to the announcement of the scientific and technological announcement, the initial price of the proposed underlying assets is 11 billion yuan. According to the purchase price of this stock issue of 3.66 yuan / share, 3 billion 5 million shares will be issued to all shareholders of Sibon, including 2 billion 432 million shares issued by Sheng Hong petrochemical company, 137 million shares to Bo Hong real estate, 273 million shares issued to Jianxin, 164 million shares issued to Bank of China.

It is understood that sierbang was founded in 2010, and its controlling shareholder is Sheng Hong petrochemical. Miu Hangen and Zhu Hongmei jointly controlled the 85.45% stake of sierbang through Sheng Hong petrochemical and Bo Hong industries as the actual controller of Sibon.

After the completion of the spanaction, the company will become a wholly owned subsidiary of the listed company. After the completion of the spanaction, the main business of the company will increase the development, production and sale of the added value olefin derivatives. The main products will further cover a series of petrochemical and fine chemicals such as acrylonitrile, MMA, EVA, EO and their derivatives, and their profitability will be greatly improved. The company will also take advantage of the actual situation of business development to actively play a synergy effect, optimize the layout of the existing chemical industry, make full use of the advantages and existing bases of location layout, continuously extend the layout of the industrial chain, expand and expand the scale of the company, expand marketing channels, enhance brand awareness, integrate customer resources, and enhance the overall profitability of listed companies.

Deng Sheng, an analyst with CITIC Securities and investment company, said that the technology in Tongliao was the first to realize the industrial application of ethylene glycol and its catalyst in the country. The core technology reserve is 220 thousand tons of ethylene glycol per year, the first to realize the industrial application of coal glycol and its catalyst in the country, and the first set of 3000 tons / year polyglycolic acid (PGA) industrial preparation plant in the world. The production line of the annual output of 30 thousand tons is constructed according to the operation status, and the annual production line of 300 thousand tons is planned in the long term. The annual output of 85 thousand tons of oxalic acid is ranked three in the domestic market (15% of the market share), and CR5 accounts for more than 80%, and the industry concentration is very high. And the Sinopec Petrochemical Company is able to make full use of the abundant coal resources in Tongliao area to realize the extension of methanol and even the coal industrial chain in the upstream of MTO through the reorganization and listing of the shell technology.

Public information shows that Jiangsu Petrochemical Co., Ltd. is responsible for the construction and operation of alcohol based polygeneration projects. Methanol is used as raw material to produce ethylene and propylene through conversion of methanol to olefins (MTO), and then produce downstream derivatives, including ethylene vinyl acetate copolymer (EVA), ethylene oxide (EO) and derivatives, acrylonitrile (AN), methyl methacrylate (MMA), super absorbent polymer (SAP) and other products.

Sibon is the leading project of Sheng Hong holding group to develop petrochemical industry and improve the main business chain. It is in line with the national industrial policy, in line with the national "one belt road" construction, the "petrochemical industry" 13th Five-Year "development plan" and the "Jiangsu coastal area development plan", which is the key backbone project to implement the coastal development strategy of Jiangsu, undertake the industrial spanfer of South of Jiangsu, and promote regional economic development. The project started in October 2013, and the first phase has been completed and put into operation. The two phase of acrylonitrile and MMA will also reach production in the three quarter of 2019.

Sheng Hong Holdings Group Limited was founded in 1992 and its headquarter is located in Shengze, Suzhou. Sheng Hong group from the textile industry's most downstream printing and dyeing began to continue to extend to the upstream of the industrial chain, forming a cluster of upstream and downstream collaborative development, and build a new high-end textile industry chain from printing and dyeing, chemical fiber to petrochemical, refining and refining, and all major business sectors are located in the leading position of the industry.

Dan Hua technology is a modern coal chemical listed company focusing on the coal to ethylene glycol business. In April 2007, the Daying group and Sheng Yu investment were listed through the asset reorganization and equity spanfer. The actual controller was the state-owned assets supervision and Management Office of the Danyang Municipal People's government. ST At present, its main business scope is the deep research and development, engineering and technology spanfer of coal chemical products, petrochemical products and their derivatives, and the production bases of self built or jointly built projects involve Inner Mongolia, Jiangsu, Henan and other places, and gradually expand to Shandong and other places.

The technology is the first high-tech enterprise to realize the industrialization of ethylene glycol in China, with many core technology reserves. The company is a new chemical enterprise which focuses on the industry of ethylene glycol. At present, it mainly produces ethylene glycol and oxalic acid through the large chemical plant of Tongliao gold coal, which is the holding subsidiary. Ethylene glycol is the main product of the company, which belongs to the large-scale production of a single product. The ethylene glycol expansion project of Tongliao gold coal company was completed and put into trial operation at the end of 2017, and reached the design capacity in July 2018. The technical revamp project is designed to produce 70 thousand tons of ethylene glycol and 30 thousand tons of oxalic acid production capacity. At present, the production capacity of the coal glycol unit is 220 thousand tons per year and 80 thousand tons of oxalic acid. The company is the first high-tech enterprise in China to produce ethylene glycol with lignite as raw material. It has mastered "coal to ethylene glycol technology" and has independent intellectual property rights, and has pioneered the industrialization application of coal to ethylene glycol in the industry.

In addition, the scale of oxalic acid production ranks three in the domestic industry, occupying about 15% of the market share.

According to the financial report, in 2018, the operating income of Dassault technology reached a record high of 1 billion 430 million yuan, an increase of 7.7% over the same period last year, and a net profit of 2 million yuan, which achieved a slight decrease of 99.2% compared with the same period last year. The main reason is that the oil prices in the fourth quarter of 2018 have dropped sharply, and the market prices of ethylene glycol and oxalic acid have dropped sharply, leading to a significant decrease in the profitability of the main products.

From the point of view of revenue and gross profit, during the reporting period, the company achieved 1 billion 430 million yuan in operating income. The main business of the company was three kinds of ethylene glycol, oxalic acid and catalyst, accounting for 58.3%, 18.3% and 15.6% respectively, accounting for 92.2% of the company's revenue. In 2018, the company realized gross profit of 340 million yuan, ethylene glycol and oxalic acid as the main source of gross profit, accounting for 50.3% and 34.2% respectively, accounting for 84.5% of gross profit of the company. More than 50% of the company's revenue and gross profit are contributed by ethylene glycol.

From the gross profit margin, oxalic acid and catalyst's gross profit rate has been at a relatively high level, of which gross profit margin of ethylene glycol dropped sharply in 2016, mainly due to the declining demand for ethylene glycol in 2016. In 2016, the sales volume of the scientific and technological catalyst was Jiangsu's gold poly subsidiary company, Tongliao gold coal. In 2018, the gross profit rates of ethylene glycol, oxalic acid and catalyst were 20.2%, 44.1% and 19.2% respectively.

According to the financial report, the net profit attributable to the parent company after the deduction of non recurring gains and losses in 2016, 2017 and 2018 was -17108.86 yuan, 34 million 425 thousand and 600 yuan and -1196.76 million respectively, and the profitability was relatively weak and fluctuated.

In the first quarter of 2019, the company paid 260 million yuan in the science and technology report period, a decrease of 27.80% compared with the same period last year, and the net profit attributable to shareholders of listed companies was -6681.44 million, compared with 6 million 345 thousand and 200 yuan in the same period last year.

In June 14th, the resumption of Dan technology resumed its trading limit. It closed 4.31 yuan on the day, or 9.95%, with a turnover of 1 million 790 thousand yuan.

It is also understood that Sheng Hong of Sheng Hong Petrochemical has invested about 77 billion 500 million yuan in March to invest in the construction of "Sheng Hong 10 thousand tons / year refining and chemical integration project". In April, Dongsheng Hong plans to increase its capital by 9 billion yuan in monetary terms with its wholly owned subsidiary, Jiangsu Sheng Hong Petrochemical Industry Development Co., Ltd., with its own funds or self financing. In May, Jiangsu Honggang Petrochemical Company Limited of Dongsheng Hong will invest in the construction of 2 million 400 thousand tons / year PTA project, with a total investment estimated at 3 billion 858 million yuan.

In June 3rd, it announced that the company intends to make a non-public offering not exceeding 20% of the total share capital of the company, that is, no more than 806 million shares (including the total number), and the total amount of funds raised (including issuing expenses) should not exceed 5 billion yuan. The announcement shows that the target audience does not exceed 10 people. Among them, Sheng Hong Suzhou intends to subscribe to the issue with cash, and the subscription amount will not exceed RMB 1 billion 500 million yuan.

The total amount will be used for the 10 thousand tonne refining and chemical integration project of Sheng Hong refining and chemical (Lianyungang) Co., Ltd. For the purpose of this fund-raising, Dongsheng Hong said, on the one hand, is to respond to the national development of high-end petrochemical products, and promote the spanformation and upgrading of the petrochemical industry policy. On the other hand, it is to implement the vertical integration strategy of industrial chain and realize the coordinated development of industrial chain integration.