The chemical fiber aircraft carrier set sail and Hengli shares resumed trading yesterday. The 11.5 billion acquisition of Hengli Investment and Hengli Refining, superimposed on the concept of taking off the hat, closed at the daily limit.
On March 13, in accordance with the requirements of the Shanghai Stock Exchange’s inquiry letter, Hengli held the first extraordinary shareholders’ meeting in 2017 and reviewed the “Proposal on the Actual Controller’s Not Violating the Previous Commitment.” During the previous reorganization, the actual controller of the listed company had promised that “if Hengli Petrochemical’s annual audited net profit attributable to the owners of the parent company after deduction of non-profits is positive and complies with relevant laws and regulations, it is willing to inject the entire Hengli Petrochemical into the listing.” company”. Regarding whether the injection of Hengli Petrochemical into a listed company during this restructuring violated previous commitments, the Shanghai Stock Exchange required the listed company to convene a shareholders’ meeting to consider the matter.
According to the voting results of small and medium-sized shareholders announced by the company, 99.15% of the votes were in favor of the company’s recent reorganization of the assets injected without violating the actual controller’s previous commitment, which also means that the proposal was approved by the shareholders’ meeting. At the same time, listed companies resumed trading today.
According to the restructuring plan previously announced by Hengli Group, the company will inject Hengli Investment and Hengli Refining and Chemicals under the group. With the injection of these two assets, Hengli Group will further promote the group’s asset securitization. It is reported that the main business of Hengli Investment this time is the production and sales of purified terephthalic acid (PTA), and the main business of Hengli Refining is the integration of crude oil refining and chemical products and the production and sales of chemical products.
The actual controller of the company stated that Hengli Co., Ltd. will be committed to the in-depth development of the petrochemical industry. Taking this reorganization as an opportunity, it will upgrade the industry to start from crude oil refining and form “aromatics-PTA-polyester-civilian yarn and industrial yarn”. “Complete industrial chain, realizing the overall listing of the group’s petrochemical sector. The listed company’s goal is to become a world-class petrochemical company with revenue exceeding 100 billion and net profit exceeding 10 billion as soon as possible.
It is worth mentioning that the State Council and the local government attach great importance to the Hengli Refining and Chemical Integration Project and require it to start construction as soon as possible. On March 10, Tan Zuojun, member of the Standing Committee of the Liaoning Provincial Party Committee and Secretary of the Dalian Municipal Party Committee, came to Hengli Petrochemical (Dalian Changxing Island) Industrial Park to investigate the construction status of the integrated refining and chemical project. He said that Changxing Island’s plan is a major national strategy and national plan for the country to develop the real economy based on the petrochemical strategy, and the Hengli Petrochemical Project is currently the largest real economy in Changxing Island, Dalian and even Liaoning. We must seize the historical opportunity and take Greater efforts and measures will be taken to promote the work.
At the same time, he also said that he would promote private enterprises to become a new force in the revitalization of Liaoning. Hengli, as the largest local private economy, will also make every effort in practice and implementation in accordance with national requirements when promoting the implementation of the Changxing Island project of Hengli Petrochemical. support.
Hengli Co., Ltd. said that the actual controller’s choice to inject the equity of Hengli Refining and Hengli Petrochemical into the listed company in 2017 will help reduce the existing related transactions and potential related transactions of the listed company, and improve the industrial chain of the listed company. Achieving the overall listing of the petrochemical sector will help enhance the asset size and income scale of listed companies, enhance the listed companies’ voice in the industry, greatly enhance the profitability of listed companies, and is conducive to the long-term development of listed companies.
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