Securities code: 300082 securities abbreviation: Liao Ning Oxiranchem Inc(300082) Announcement No.: 2022-002 Liao Ning Oxiranchem Inc(300082)
About signing the green low carbon fine chemical project derived from epoxy and carbon dioxide
Announcement of strategic cooperation framework agreement
The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete without false records, misleading statements or major omissions. Special tips:
1. The signed strategic cooperation framework agreement on epoxy and carbon dioxide derived green low-carbon fine chemical project (hereinafter referred to as “the agreement”) is an intentional strategic cooperation framework agreement and does not constitute an investment obligation. The specific investment matters need to be negotiated and determined by both parties according to the project feasibility study report, And perform corresponding approval and disclosure procedures in accordance with the Shenzhen Stock Exchange GEM Listing Rules and the articles of association. 2. The project investment scale, investment amount, annual sales volume and project floor area involved in this Agreement are the estimates made by both parties under the current conditions in combination with the market environment, do not represent the company’s prediction of future performance, nor constitute the company’s substantive commitment to investors.
3. The subsequent progress of the project involved in this agreement is still uncertain. Please pay attention to the investment risks.
1、 Overview of foreign investment
Liao Ning Oxiranchem Inc(300082) (hereinafter referred to as “company” or “party a”) recently signed the strategic cooperation framework agreement on green low-carbon fine chemical project derived from epoxy and carbon dioxide with the Management Committee of Dalian Changxing Island Economic and Technological Development Zone (hereinafter referred to as “Changxing Island Management Committee” or “Party B”), The company plans to invest in the construction of epoxy and carbon dioxide derived green low-carbon fine chemical project (hereinafter referred to as the “project”) in Dalian Changxing Island (Xizhong Island). The total investment of phase I project is expected to be RMB 5 billion (the specific investment amount shall be subject to the project feasibility study report).
This Agreement does not involve related party transactions and does not constitute a major asset reorganization as stipulated in the administrative measures for major asset reorganization of listed companies.
2、 Basic information of the other party
1. Name: Dalian Changxing Island Economic and Technological Development Zone Management Committee
2. Nature: local government agency
3. Legal representative: Yang Guangzhi
4. Address: No. 600, Changxing Road, Changxing Island Economic and Technological Development Zone, Dalian
5. Related relationship: the company has no related relationship with Changxing Island Management Committee
3、 Main contents of the agreement
Party A: Liao Ning Oxiranchem Inc(300082)
Party B: Dalian Changxing Island Economic and Technological Development Zone Management Committee
(I) investment content
1. The project is invested and constructed by Party A or its subordinate wholly-owned company or holding joint venture (hereinafter collectively referred to as the project company).
2. Party A invests in the construction of green low-carbon fine chemical project derived from epoxy and carbon dioxide in Party B, of which the phase I project includes 350000 T / a ethylene oxide project, 150000 t carbon dioxide recovery project, 300000 t / a carbonate series product project, 400000 T / a ethylene oxide downstream derivative project 100000 t / a carbon dioxide derived green low-carbon fine chemical product demonstration project and auxiliary public works projects such as storage and transportation (collectively referred to as “phase I project”). Phase II project planning includes green methanol to olefin project, green olefin downstream derivative project, green special olefin polymer and supporting public works projects.
The total investment of phase I project is expected to be 5 billion yuan. After the completion of the project, the annual output of one million tons of green low-carbon fine chemical products derived from epoxy and carbon dioxide is expected to exceed 10 billion yuan. The specific contents shall be subject to the project feasibility study report of Party A.
(II) site selection and land acquisition
1. The project is located in Changxing Island (Xizhong Island) petrochemical industry base in Dalian, Liaoning Province.
2. The planned land area of the project is about 890000 square meters (the specific land area shall be subject to the actual demand of Party A). The investment intensity and land output rate will exceed the requirements of the control standard for construction land of industrial projects in Dalian Changxing Island Economic Zone.
3. Party A obtains the project construction land according to the “bidding, auction and listing” procedure.
(III) responsibilities and obligations of Party A
1. Party A promises to bid for the right to use the project construction land in accordance with relevant legal procedures.
2. Party A promises not to move the project company away from the place of registration, change or transfer the tax obligations out of Party B’s area, reduce the registered capital, etc. within 10 years.
3. Party A shall provide Party B with written application documents for supporting construction. The application documents shall specify the supporting specifications and standards of infrastructure, including necessary water, electricity, gas, wind and other relevant parameters.
4. If Party A fails to obtain the corresponding approval procedures for the project because the project does not meet the requirements of national or Party B’s policies (such as planning, sea use, energy use, environmental assessment, etc.), resulting in the failure to start the project, Party A has the right to terminate this agreement. (IV) responsibilities and obligations of Party B
1. Party B promises to assist Party A in signing the service contract with the supporting service enterprise according to the technical parameters related to the public works required by Party A in this agreement, and coordinate the supporting service enterprise of public works to provide support for Party A at the time agreed in the contract.
2. Party B promises to specify the supporting construction period after receiving the application from Party A, and Party B shall actively perform its contractual obligations within the supporting construction period.
3. If the land use right and aboveground buildings of the project are auctioned by the court due to Party A, Party B has the right to terminate this contract.
(V) others
1. All supporting service facilities of public works shall be in place in time. If Party A is unable to put into operation and causes losses due to the failure of public works supporting facilities on schedule, Party B shall urge the public works supporting service enterprise to compensate according to the contract. If Party A fails to sign a service contract with the utility supporting service enterprise as agreed in the agreement, Party A shall bear the loss of non supporting.
2. This agreement serves as the basic document of other subsequent cooperation contracts between both parties.
3. The project involved in this agreement still needs Party A to perform the necessary internal approval procedures.
4. This Agreement shall come into force after being signed and sealed by both parties.
4、 Investment purpose and impact on the company
The investment and location of the project in Dalian Changxing Island (Xizhong Island) petrochemical industry base is a major strategic measure for the company to implement the key projects of the 14th five year plan.
Dalian Changxing Island (Xizhong Island) petrochemical industry base is one of the seven major petrochemical industry bases planned by the state and the only national petrochemical industry base in Northeast China. Its goal is to “build a world-class petrochemical industry base” and is the preferred base for the implementation of key projects in the company’s “14th five year plan”.
Changxing Island (Xizhong Island) petrochemical industry base is rich in petrochemical industry resources, complete infrastructure and unique ports and terminals. In the 14th five year plan of Changxing Island petrochemical industry base, the oil refining scale will reach 40 million tons, the ethylene scale will reach 8 million tons, the p-xylene (PX) scale will reach 10 million tons and the propylene scale will reach 4 million tons; By 2030, the scale of ethylene is planned to reach 10 million tons and the scale of propylene will reach 6 million tons.
The project will make full use of the unique advantages of Dalian Changxing Island (Xizhong Island) petrochemical industry base, such as rich petrochemical industry resources, complete infrastructure and favorable timing and location of the port and wharf, while investing in the operation of light hydrocarbon wharf project and building a supporting platform for industrial technological innovation, Focus on investing in the construction and development of green epoxy and carbon dioxide derived low-carbon fine chemicals and new material industries. Phase I will invest in the construction of 350000 T / a ethylene oxide, 300000 t / a carbonate series products, 400000 T / a ethylene oxide downstream derivative series products 150000 tons of carbon dioxide recovery and 100000 tons / year of carbon dioxide derived green, low-carbon and new energy series industrial clusters.
Phase II will plan to build green methanol to olefin project, green olefin downstream derivative project and green special olefin polymer, further strengthen and expand oak green epoxy and carbon dioxide derived green low-carbon fine chemical and energy chemical new material industries, and cultivate and expand high-end new material industries such as special olefin polymers.
This project is the key project of the company’s “14th five year plan” development plan. The investment and construction of the project is of great significance for the company to meet the “double carbon” challenge, seize the strategic opportunity of resource utilization of carbon dioxide, and accelerate the industrial application transformation, industrialization and intensive development of the 10000 ton technical achievements of the company’s “world first and international leading” ethylene oxide and carbon dioxide derivative vinyl carbonate series products, It is of great strategic significance to improve and consolidate the company’s industrial chain, supply chain and strategic layout in China, realize the scientific and technological innovation drive and green, low-carbon and high-quality development of the company in the 14th five year plan, continuously create value for shareholders, and further consolidate and enhance the company’s core competitiveness.
At the same time, the investment and construction of the project will promote the resource utilization of carbon dioxide and green and low-carbon development in China. It has important economic and social value in promoting the transformation and upgrading of “old brands” in Liaoning Province, deeply developing “original brands”, cultivating and expanding “new brands”, and promoting the high-quality development of China’s ethylene oxide green and low-carbon industry.
5、 Risk tips
1. This agreement is an intentional strategic cooperation framework agreement and does not constitute an investment obligation. The specific investment matters need to be determined by both parties through consultation according to the project feasibility study report and perform the corresponding approval procedures in accordance with the Listing Rules of gem shares of Shenzhen Stock Exchange and the articles of association.
2. The project land involved in this Agreement shall be handled in accordance with the land use procedures specified in the current national laws, regulations and policies and obtained by means of bidding, auction or listing. There are uncertainties in whether the land use right can be won, the final transaction area, price and acquisition time of the land use right.
3. The project investment scale, investment amount, annual sales volume and project floor area involved in this Agreement are the estimates made by both parties under the current conditions in combination with the market environment, do not represent the company’s prediction of future performance, nor constitute the company’s substantive commitment to investors.
4. For the projects involved in this agreement, if the follow-up implementation still needs to go through the pre-approval work such as project filing, environmental impact assessment, safety assessment and energy review and approval with the relevant competent government departments, there may be the risk of change, extension, suspension or termination in case of national or local policy adjustment, project approval and other implementation procedures and conditions change.
5. The estimated total investment of phase I of the project involved in this agreement is RMB 5 billion (the specific investment amount shall be subject to the project feasibility study report), which is higher than the current book monetary capital level of the company. At present, the required capital arrangement has not been specifically defined, and the subsequent will be determined according to the actual situation of the company’s capital and project progress.
6. For the follow-up matters involved in the investment of the project, the company will perform the corresponding approval procedures and information disclosure obligations according to the progress and transaction amount in accordance with the provisions of relevant normative documents and systems such as the Listing Rules of gem shares of Shenzhen Stock Exchange and the articles of association. Please pay attention to the investment risks. 6、 Documents for future reference
Strategic cooperation framework agreement on green low carbon fine chemical project derived from epoxy and carbon dioxide.
It is hereby announced.
Liao Ning Oxiranchem Inc(300082) board of directors January 17, 2002
