Securities code: 300261 securities abbreviation: Aba Chemicals Corporation(300261) Announcement No.: 2022-007 Aba Chemicals Corporation(300261)
Announcement on the verification results of the suspension and resumption of trading of the company’s shares
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions. Special tips:
1. From November 1, 2021 to January 28, 2022, the company’s stock price increased by about 432.55%, which was significantly higher than the change degree of the company’s fundamentals and did not match the company’s current fundamentals. Since November 1, 2021, the rising range of the company’s stock price and the level of dynamic P / E ratio have been significantly higher than the industry average. The dynamic P / E ratio and range rise and fall of the company and representative comparable listed companies in the same industry and their average values are as follows:
Dynamic P / E ratio range rise and fall
Securities code securities abbreviation as of January 28, 2022 (November 1, 2021 to January 28, 2022)
300261 Aba Chemicals Corporation(300261) 130.93 432.55%
002250 Lianhe Chemical Technology Co.Ltd(002250) 42.82 -4.45%
300575 Jiangsu Flag Chemical Industry Co.Ltd(300575) 26.28 -14.51%
002258 Lier Chemical Co.Ltd(002258) 14.13 -7.17%
002326 Zhejiang Yongtai Technology Co .Ltd(002326) 56.47 -48.61%
399102 gem comprehensive — 15.50%
Investors are particularly reminded to pay attention to the following risks:
1) The stock price of the company has increased significantly in the short term, and the dynamic P / E ratio is higher than the average level of the same industry. The company reminds investors to pay attention to the transaction risks in the secondary market, make prudent decisions and invest rationally.
2) Please fully understand the stock market risks and the risk factors disclosed by the company. The capital market is a market affected by many factors. The company’s stock price may be affected by multiple factors such as macroeconomic situation, industrial policies, the company’s production and operation, financial market liquidity, capital market atmosphere and investors’ psychological expectations. Therefore, the company reminds investors to fully understand the stock market risks and the risk factors disclosed in the company’s regular reports, Pay attention to the transaction risks in the secondary market, make prudent decisions, invest rationally, improve risk awareness, and avoid blindly following the trend.
2. In the reply to the letter of concern disclosed by the company on January 5, 2022, “carbonic anhydride and its derivatives can be used to synthesize Pfizer covid-19 oral drug parovid from the process flow”, in which carbonic anhydride and its derivatives refer to compounds rather than products produced by the company, It cannot be determined that the carbonic anhydride and its derivatives produced by the company can be used to synthesize Pfizer covid-19 oral drug. The company has no business contact and cooperation with Pfizer, has not signed a cooperation agreement with Pfizer, has not supplied Carlin anhydride products to Pfizer, Pfizer has not provided the company with any quality standards for the procurement of covid-19 oral drug front-end raw materials, and the company’s customers refuse to provide the end use of Carlin anhydride and its derivatives, The company is unable to determine whether the produced carbonic anhydride products meet the needs of Pfizer products, and has not conducted relevant technical verification. It is unable to determine whether the carbonic anhydride products produced by the company are or can become Pfizer covid-19 oral drug intermediates.
3. As of December 31, 2021, the company’s sales revenue of carbonic anhydride and its derivatives in 2021 was 27.073 million yuan (excluding tax), accounting for about 1% – 2% of the company’s total operating revenue in 2021, which is relatively small, and is not expected to have a significant impact on the company’s performance in 2021. As of December 31, 2021, the total amount of orders on hand for carbonic anhydride and its derivatives was 63.5408 million yuan (excluding tax).
The company learned that other manufacturers in the industry plan to invest in the construction of production lines of carbonic anhydride and its derivatives, and the design capacity is much higher than the company’s existing capacity. According to the scale effect, after other manufacturers put into large-scale production, the production cost is expected to be lower than the production cost of the company’s products, which may lead to the risk of loss of orders, reduction of revenue, decline of profitability and so on. At the same time, the construction and government approval cycle of new chemical production projects is long and uncertain. In view of the above situation, the company studies the expansion of production of carbonic anhydride and its derivatives. When the downstream market situation of carbonic anhydride and its derivatives becomes clear, the company will make planning and prudent decision on whether to expand production. At present, the company has not decided whether to expand production, and there is still great uncertainty about whether to expand production in the end. Please pay attention to investment risks, make prudent decisions and invest rationally.
Risk tip: in recent years, the state and local governments have issued many policies and plans for the chemical industry. There is uncertainty about whether the new chemical (expansion) project can be approved by relevant departments, or whether it can be approved by relevant departments, but the application takes a long time. Therefore, there is still uncertainty about whether the company can expand the production of carbonic anhydride and its derivatives. Investors are kindly requested to pay attention to investment risks, make prudent decisions and invest rationally.
4. The trading of the company’s shares will resume from the opening of the market on Monday, February 7, 2022.
1、 Description of suspension and resumption of trading of the company’s shares
Aba Chemicals Corporation(300261) (hereinafter referred to as “the company”) has accumulated more than 30% deviation from the closing price on January 13 and January 14, 2022. According to the relevant regulations of Shenzhen Stock Exchange, it belongs to the situation of abnormal fluctuation of stock trading.
Due to the recent abnormal fluctuation of the company’s share price, in order to safeguard the interests of the majority of investors, according to the relevant provisions of the Shenzhen Stock Exchange GEM Listing Rules, the company checked the abnormal fluctuation of stock trading. The trading of the company’s shares (stock abbreviation: Aba Chemicals Corporation(300261) , Stock Code: 300261) was suspended since the opening of the market on January 17, 2022 and resumed after the disclosure of the verification announcement.
During the suspension, the company checked the matters related to the abnormal fluctuation of stock trading. In view of the completion of relevant self inspection work, according to the Listing Rules of gem shares of Shenzhen Stock Exchange and other regulations, upon the application of the company, the trading of the company’s shares will resume from the opening of the market on Monday, February 7, 2022.
2、 The company pays attention to and verifies relevant information
In view of the abnormal fluctuation of the company’s shares, the board of directors of the company verified the controlling shareholders, shareholders holding more than 5% shares, all directors, supervisors and senior managers of the company through telephone and communication. The relevant information is explained as follows:
1. Recently, the company’s business situation and internal and external business environment have not changed significantly.
2. From November 1, 2021 to January 28, 2022, the company’s stock price increased by about 432.55%, which was significantly higher than the change degree of the company’s fundamentals and did not match the company’s current fundamentals. Since November 1, 2021, the rising range of the company’s stock price and the level of dynamic P / E ratio have been significantly higher than the industry average. The dynamic P / E ratio and range rise and fall of the company and representative comparable listed companies in the same industry and their average values are as follows:
Dynamic P / E ratio range rise and fall
Securities code securities abbreviation as of January 28, 2022 (November 1, 2021 to January 28, 2022)
300261 Aba Chemicals Corporation(300261) 130.93 432.55%
002250 Lianhe Chemical Technology Co.Ltd(002250) 42.82 -4.45%
300575 Jiangsu Flag Chemical Industry Co.Ltd(300575) 26.28 -14.51%
002258 Lier Chemical Co.Ltd(002258) 14.13 -7.17%
002326 Zhejiang Yongtai Technology Co .Ltd(002326) 56.47 -48.61%
399102 gem comprehensive — 15.50%
Investors are particularly reminded to pay attention to the following risks:
1) The stock price of the company has increased significantly in the short term, and the dynamic P / E ratio is higher than the average level of the same industry. The company reminds investors to pay attention to the transaction risks in the secondary market, make prudent decisions and invest rationally.
2) Please fully understand the stock market risks and the risk factors disclosed by the company. The capital market is a market affected by many factors. The company’s stock price may be affected by multiple factors such as macroeconomic situation, industrial policies, the company’s production and operation, financial market liquidity, capital market atmosphere and investors’ psychological expectations. Therefore, the company reminds investors to fully understand the stock market risks and the risk factors disclosed in the company’s regular reports, Pay attention to the transaction risks in the secondary market, make prudent decisions, invest rationally, improve risk awareness, and avoid blindly following the trend. 3. In the reply to the letter of concern disclosed by the company on January 5, 2022, “carbonic anhydride and its derivatives can be used to synthesize Pfizer covid-19 oral drug parovid from the process flow”, in which carbonic anhydride and its derivatives refer to compounds rather than products produced by the company, It cannot be determined that the carbonic anhydride and its derivatives produced by the company can be used to synthesize Pfizer covid-19 oral drug. The company has no business contact and cooperation with Pfizer, has not signed a cooperation agreement with Pfizer, has not supplied Carlin anhydride products to Pfizer, Pfizer has not provided the company with any quality standards for the procurement of covid-19 oral drug front-end raw materials, and the company’s customers refuse to provide the end use of Carlin anhydride and its derivatives, The company is unable to determine whether the produced carbonic anhydride products meet the needs of Pfizer products, and has not conducted relevant technical verification. It is unable to determine whether the carbonic anhydride products produced by the company are or can become Pfizer covid-19 oral drug intermediates.
4. As of December 31, 2021, the company’s sales revenue of carbonic anhydride and its derivatives in 2021 was 27.073 million yuan (excluding tax), accounting for about 1% – 2% of the company’s total operating revenue in 2021, which is relatively small, and is not expected to have a significant impact on the company’s performance in 2021. As of December 31, 2021, the total amount of orders on hand for carbonic anhydride and its derivatives was 63.5408 million yuan (excluding tax).
The company learned that other manufacturers in the industry plan to invest in the construction of production lines of carbonic anhydride and its derivatives, and the design capacity is much higher than the company’s existing capacity. According to the scale effect, after other manufacturers put into large-scale production, the production cost is expected to be lower than the production cost of the company’s products, which may lead to the risk of loss of orders, reduction of revenue, decline of profitability and so on. At the same time, the construction and government approval cycle of new chemical production projects is long and uncertain. In view of the above situation, the company studies the expansion of production of carbonic anhydride and its derivatives. When the downstream market situation of carbonic anhydride and its derivatives becomes clear, the company will make planning and prudent decision on whether to expand production. At present, the company has not decided whether to expand production, and there is still great uncertainty about whether to expand production in the end. Please pay attention to investment risks, make prudent decisions and invest rationally.
Risk tip: in recent years, the state and local governments have issued many policies and plans for the chemical industry. There is uncertainty about whether the new chemical (expansion) project can be approved by relevant departments, or whether it can be approved by relevant departments, but the application takes a long time. Therefore, there is still uncertainty about whether the company can expand the production of carbonic anhydride and its derivatives. Investors are kindly requested to pay attention to investment risks, make prudent decisions and invest rationally.
5. The information disclosed by the company in the early stage does not need to be corrected or supplemented.
6. The company, its controlling shareholders and actual controllers do not have any major events that should be disclosed but have not been disclosed, nor do they have any major events in the planning stage.
7. During the period of stock change, the controlling shareholder and actual controller of the company do not buy or sell the company’s shares. 3、 Whether the company has information that should be disclosed but not disclosed
The board of directors of the company confirms that there is no undisclosed matter or planning, negotiation, intention, agreement, etc. related to the matter that should be disclosed according to the Listing Rules of GEM stocks of Shenzhen Stock Exchange; The board of directors has not been informed that the company has undisclosed information that has a great impact on the trading price of the company’s shares and their derivatives that should be disclosed in accordance with the Shenzhen Stock Exchange GEM Listing Rules and other relevant provisions; The information disclosed by the company in the early stage does not need to be corrected or supplemented.
4、 The company believes that it must
