Shenma shares: 140 million yuan to transfer the ownership of adiponitrile technology

On January 11, Shenma Industrial Co.
, Ltd.
announced that its wholly-owned subsidiary Henan Shenma Aidean Chemical Co.
, Ltd.
(referred to as "Aidean Company") intends to acquire Henan Zhongping Ziguang Technology Co.
, Ltd.
(called "Aidean").
"Zhongping Ziguang") holds the ownership of the 500t/a direct hydrocyanation of butadiene to produce adiponitrile technology
.

Specifically include: ownership of 12 patents, related process packages (small test records, analysis records, pilot test operation records, summary reports, DCS data, purchased reports), preliminary design materials, technical secrets and trade secrets
.

Taking September 30, 2021 as the evaluation base date, the evaluation value of the ownership of the 500t/a butadiene direct hydrocyanation to prepare adiponitrile technology held by Zhongping Ziguang is 132 million yuan, which is compared with the book value of 100.
7 million yuan.
The value added was RMB 31.
585 million, with a value-added rate of 31.
35%
.
The transfer price of the ownership of adiponitrile technology is based on the evaluation results.
The transfer price is 140 million yuan (tax included), and the transaction consideration will be paid in cash
.

Shenma Co.
, Ltd.
said: This transaction solves the technical use problem of Aidean's annual production of 50,000 tons of adiponitrile project, which is conducive to Aidean's smooth project construction, reduces the company's dependence on imported products, and replaces some imports.
It is of great significance for the company to build a complete nylon 66 industrial chain and further consolidate its dominant position in the nylon industry
.
Whatsminer Co.
, Ltd.
mainly purchases adiponitrile from INVISTA in the United States, and the company's annual demand for adiponitrile is more than 100,000 tons
.

On December 30, 2021, Henan Shenma Aidian Chemical Co.
, Ltd.
with a registered capital of 300 million yuan was officially registered and established to build an adiponitrile project with an annual output of 200,000 tons (the first phase of 50,000 tons).
Coal Shenma Energy and Chemical Group Co.
, Ltd.
(referred to as "Pingmei Shenma Group") nylon industry chain complements the key link of independent production of adiponitrile.
After the project is put into operation, it will break the dependence of all upstream key raw materials in China's nylon 66 industry.
The current situation of foreign imports has laid a solid foundation for the development of the entire industrial chain of the nylon industry of Pingmei Shenma Group
.

Shenma Co.
, Ltd.
's first-phase 50,000-ton adiponitrile project is located in the chemical industry cluster area of ​​Pingdingshan City, and is fully funded by Shenma Co.
,
Ltd.
The project adopts the current international advanced technology of direct hydrocyanation of butadiene to synthesize adiponitrile, which has the advantages of less investment, low energy consumption, less pollution and high product quality
.
The total investment of the project is 1.
19 billion yuan, and the construction period is two years.
It is expected to be put into operation in 2022
.

In recent years, with the development of new functional materials and the construction of China's Nylon City as a national development strategy, Pingmei Shenma Group has seized strategic opportunities, relying on technology, industrial chain and brand advantages, the production scale of nylon leading products has been rapidly expanded.
During the "Fourth Five-Year Plan" period, the "double 1 million tons" production base of nylon 66 and adipic acid was built.
The rapid development of the industry urgently needs to solve the safe supply of key raw materials
.

Based on the safety of industrial development, Shenma Co.
, Ltd.
has strengthened cooperation with many domestic colleges and research institutes, made full efforts to make breakthroughs in the production technology of adiponitrile, and finally completed the technical research on the commercial production of adiponitrile, and achieved the commercialization of adiponitrile.
Production of independent intellectual property rights
.