Securities code: Cnnc Hua Yuan Titanium Dioxide Co.Ltd(002145) securities abbreviation: Cnnc Hua Yuan Titanium Dioxide Co.Ltd(002145) Announcement No.: 2022011 Cnnc Hua Yuan Titanium Dioxide Co.Ltd(002145)
Announcement on the establishment of foreign investment companies
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.
Important content tips:
Name of investment object: Anhui Jinxing new energy materials Co., Ltd
Amount of foreign investment: RMB 200 million
This investment does not constitute a connected transaction, nor does it constitute a major asset reorganization stipulated in the administrative measures for major asset reorganization of listed companies.
Special risk tip: after the establishment of the new company, it may face risks in macroeconomic, industry cycle, market changes and other aspects in the operation process, and there is uncertainty in the future operation.
1、 Overview of foreign investment
In order to optimize the allocation of resources, improve the strategic layout and promote the healthy development of the industry, Cnnc Hua Yuan Titanium Dioxide Co.Ltd(002145) (hereinafter referred to as "the company") wholly-owned subsidiary Anhui Jinxing titanium dioxide (Group) Co., Ltd. (hereinafter referred to as "Jinxing titanium dioxide") invested to establish Anhui Jinxing new energy materials Co., Ltd. (hereinafter referred to as "Jinxing new energy"), with a registered capital of RMB 200 million, and Jinxing titanium dioxide holds 100% of its shares.
The capital source of this foreign investment is the company's own capital.
The measures for the administration of foreign investment of listed companies do not constitute major assets reorganization. According to the relevant provisions of the Listing Rules of Shenzhen Stock Exchange and the articles of association, this foreign investment is within the decision-making authority of the company's management and does not need to be submitted to the board of directors and the general meeting of shareholders for deliberation.
2、 Basic information of investment object
Company name: Anhui Jinxing new energy materials Co., Ltd
Company type: limited liability company (sole proprietorship of legal person invested or controlled by non natural person)
Legal representative: wangzelong
Registered capital: 200 million yuan only
Registered address: No. 1, Xinhua Road, Cihu high tech Zone, Ma'anshan City, Anhui Province
Contribution method and equity structure: Venus titanium white will contribute with its own funds and hold 100% equity of Venus new energy. Venus titanium white will complete the contribution in time according to the capital demand of Venus new energy.
Business scope: general items: manufacturing of electronic special materials; Research and development of special electronic materials; Production of chemical products (excluding licensed chemical products); Sales of chemical products (excluding licensed chemical products); Import and export of goods; Technical services, technical development, technical consultation, technical exchange, technology transfer and technology promotion; Land pipeline transportation (except for licensed business, it can independently operate projects not prohibited or restricted by laws and regulations)
3、 Purpose of this foreign investment
The company has been deeply engaged in the industry in which its main business is located for many years. After more than 20 years of industry leadership and technological innovation, on the one hand, the company has accumulated profound resources, experience, talents and technology in the R & D, production and sales of titanium dioxide by sulfuric acid process, so that the company's main products can maintain high market share, performance return and development space for a long time. On the other hand, in order to further expand the development space, the company focuses on the four business segments of "resources, titanium chemical industry, new materials and new energy", and actively explores and arranges new development opportunities. Under the background of vigorously promoting "carbon peaking and carbon neutralization" in the world, the company takes the realization of green and sustainable development of its main business as the starting point, and constructs a coupled circular industrial economy with new materials in the new energy industry as the end product through comprehensive utilization of by-products. The company issued the announcement on investment and construction of lithium iron phosphate project with an annual output of 500000 tons (Announcement No.: 2021021) in February 2021, and issued the company's plan for non-public offering of A-Shares in 2021 in May 2021. It plans to take Gansu Dongfang Titanium Industry Co., Ltd. (hereinafter referred to as "Dongfang titanium industry"), a wholly-owned subsidiary of the company, as the implementation subject, Invest in the construction of lithium iron phosphate project with an annual output of 500000 tons (phase I: 500000 tons of iron phosphate). The construction of phase II and phase III projects will be carefully promoted according to the construction of the above-mentioned projects, product market capacity and demand. As of the date of this announcement, Dongfang titanium's 500000 ton iron phosphate project is under normal progress. It is expected to enter the trial production stage this year and gradually put into operation and release production capacity.
On the basis of fully mastering the relevant product technology and market, this foreign investment and establishment of Jinxing new energy is an important strategic practice for the company to layout the new material and new energy industry. The company plans to take Venus new energy as the main body to promote the transformation and upgrading of Venus titanium dioxide by building a circular industrial economy. Venus new energy will focus on the implementation projects in the field of battery cathode materials such as iron phosphate. This foreign investment conforms to the company's medium and long-term development plan and the concept of sustainable development, and will create new performance growth points for the company.
4、 Risks of this foreign investment and its impact on the company
This foreign investment is a prudent decision made based on the long-term development of the company, but the future macroeconomic environment fluctuations, the adjustment of relevant national or local policies and the project progress of the new company are less than expected will have a certain impact on the realization of the expected benefits of the new company. The company will actively improve the corporate governance structure of the new company, strengthen the establishment and operation of internal cooperation mechanism, clarify business strategy, constantly adapt to business requirements and market changes, and actively prevent and respond to the above risks.
The capital source of this investment is the company's own funds, which will not have an adverse impact on the company's financial and operating conditions, and there is no situation that damages the interests of the company and all shareholders, especially minority shareholders. After the completion of this investment, Jinxing new energy will be included in the scope of the company's consolidated financial statements, and its operation will have a positive impact on the company's future development and operation.
The company will perform the corresponding decision-making procedures and information disclosure obligations according to the progress of this investment and the requirements of relevant laws, regulations and normative documents. Please invest rationally and pay attention to investment risks.
5、 Documents for future reference
1. Business license of Anhui Jinxing new energy materials Co., Ltd.
It is hereby announced.
Cnnc Hua Yuan Titanium Dioxide Co.Ltd(002145) board of directors
April 24, 2022
