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On May 28, Lomon Baililian Group Co.
, Ltd.
issued an announcement on the establishment of subsidiaries: According to the needs of the company’s business and strategic development, in order to further increase the company’s market share and strengthen the company’s competitiveness, the company’s wholly-owned subsidiary Long Bai Sichuan Titanium Industry Co.
, Ltd.
(hereinafter referred to as "Long Bai Titanium Industry") intends to invest 400 million yuan to establish Gansu Baililian Chemical Co.
, Ltd.
in Jinchang City, Gansu Province.
quasi).
Basic situation of the proposed company
1.
Company name: Gansu Baililian Chemical Co.
, Ltd.
2.
Entity type: limited liability company
3.
Registered capital: 400 million yuan
4.
Investor: Longbai Sichuan Titanium Industry Co.
, Ltd.
100%
5.
Company registration place: No.
68, Xinhua East Road, Jinchuan District, Jinchang City, Gansu Province
6.
Legal representative: Wu Pengsen
7.
The company's business scope:
Licensed items: production of new chemical substances.
(Projects subject to approval in accordance with the law can only be carried out after the approval of relevant departments.
For specific operation projects, the approval documents or permits of relevant departments shall prevail)
General items: manufacturing of basic chemical raw materials (excluding the manufacturing of licensed chemicals such as hazardous chemicals); manufacturing of lime and gypsum; manufacturing of lightweight construction materials; sales of building materials; sales of chemical products (excluding licensed chemical products); Quality building materials sell coatings online at coatingol.
com .
(Except for items subject to approval in accordance with the law, the business license shall be used to independently carry out business activities in accordance with the law).
The above information is subject to the final approval and registration of the administrative department for industry and commerce.
The purpose of establishing a subsidiary and its impact on the company
The establishment of the above-mentioned companies is to further increase the company's market share, strengthen the company's competitiveness, and increase the level of profitability in accordance with the needs of company operations and strategic development.
This investment is invested by Longbai Titanium with its own funds, and will not adversely affect the financial and operating conditions of the company and Longbai Titanium, and there is no situation that harms the interests of the company and all shareholders.
