Home > News > Content
Wanhua Chemical, The World's Largest MDI Producer, Has Attracted Huge Attention
- May 25, 2018 -

Recently, Wanhua Chemical received an inquiry letter from the Shanghai Stock Exchange for its merger of related companies. The SSE’s inquiry letter questioned the liabilities of the assets subject to the transaction, the reasonableness of the high gross profit margin of the underlying asset subsidiary and the revenue. Problems such as low cash content.

Earlier, Wanhua Chemical announced that it intends to absorb Wanhua Chemical in the form of shares issued by Guofeng Investment, Synthetic International, Zhongcheng Investment, Zhongkaixin, and Dejie Huitong. After the completion of the transaction, Wanhua Chemical, as the surviving party, will inherit and undertake all assets, liabilities, business, contracts and all other rights and obligations of Wanhua Chemical. Wanhua Chemical will cancel the legal person qualification and Wanhua Chemical holds The shares of the listed company will be cancelled and the shareholders of Wanhua Chemical will become shareholders of the listed company.

Wanhua Chemical is a leader in listed companies in China's chemical industry. In 2017, Wanhua Chemical realized operating revenue of RMB 53.1 billion, up 76.5% year-on-year; deducted non-returned mother net profit was RMB 11.13 billion, which was a year-on-year increase of 202.6%. Excellent performance has supported Wanhua Chemical's share price to increase substantially in 2017, and it has risen by 127.3% before the suspension on December 4, 2017.

As a result of the restructuring of the assets, Wanhua Chemical has been suspending its business since the beginning of December last year. The underlying assets of the reorganization are 100% equity of Wanhua Chemical. Wanhua Chemical was established on January 30, 2018. It was a new company established after the original controlling shareholder of the listed company Wanhua Industrial was separated.

Copyright © Guangdong Ximi New Material Technology Co.,Ltd All Rights Reserved.