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On July 26, a Hong Kong-listed company, Yip's Chemical Group Co.
, Ltd.
("Ye's Chemical") announced that Ye's Chemical and Taimeng Investment Group (Taimeng) signed a contract for RMB 2.
295 billion (equivalent to approximately 2.
295 billion yuan).
HK$2.
688 billion or US$340 million) to sell a 51% effective interest in Qianxin Chemical Group Co.
, Ltd.
(Qianxin Chemical), a subsidiary of its solvent business, to Taimeng
.
Taimeng will work with Yip's Chemical and other existing shareholders to develop the solvent business, promote the vertical integration of Qianxin Chemical's self-produced raw materials, reduce greenhouse gas emissions, and support the group's environmental protection strategy
.
It is estimated that the net proceeds from the transaction will be approximately HK$2.
451 billion, and an unaudited gain of approximately HK$1.
188 billion will be recorded
.
Mr.
Ye Zhicheng, Chairman of Yip's Chemical, said that the proceeds will be used to promote the Group's more strategic investment projects involving new materials and new technologies, so as to speed up the Group's "environmental protection, terminalization, and service-oriented" direction and lay a solid foundation for the Group's long-term development.
Solid foundation
.
It is estimated that the net proceeds from the transaction will be approximately HK$2.
451 billion, and an unaudited gain of approximately HK$1.
188 billion will be recorded
.
Mr.
Ye Zhicheng, Chairman of Yip's Chemical, said that the proceeds will be used to promote the Group's more strategic investment projects involving new materials and new technologies, so as to speed up the Group's "environmental protection, terminalization, and service-oriented" direction and lay a solid foundation for the Group's long-term development.
Solid foundation
.
In 2021, the sales volume of Ye's chemical solvent business will increase by 2% year-on-year, and sales will increase by 78% year-on-year to 14 billion In Hong Kong dollars, the output remained unchanged and the sales increased significantly, mainly due to the increase in product prices
.
In 2021, the sales volume of Ye's chemical solvent business will increase by 2% year-on-year, and sales will increase by 78% year-on-year to 14 billion In Hong Kong dollars, the output remained unchanged and the sales increased significantly, mainly due to the increase in product prices
.
.
Taking June as an example, the price of ethyl acetate in 2022 is 7736 yuan/ton, which has dropped by 1731 yuan compared with 9467 yuan/ton in 2021
.
.
Taking June as an example, the price of ethyl acetate in 2022 is 7736 yuan/ton, which has dropped by 1731 yuan compared with 9467 yuan/ton in 2021
.
