Securities code: 000707 securities abbreviation: * ST Shuanghuan Announcement No.: 2022-004 Hubei Shuanghuan Science And Technology Stock Co.Ltd(000707)
Announcement on cancellation of wholly owned subsidiaries
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.
Hubei Shuanghuan Science And Technology Stock Co.Ltd(000707) (hereinafter referred to as "the company" or "Shuanghuan technology") plans to liquidate and cancel its wholly-owned subsidiary Hubei Huanyi Chemical Co., Ltd. (hereinafter referred to as "Huanyi chemical") in order to integrate existing resources and reduce management costs. The company held the sixth meeting of the 10th board of directors on January 20, 2022 and considered and adopted the proposal on canceling its wholly-owned subsidiary, The proposal still needs to be submitted to the general meeting of shareholders of the company for deliberation.
This event does not constitute a connected transaction, nor does it constitute a major asset reorganization as stipulated in the measures for the administration of major asset reorganization of listed companies. The company will perform the necessary approval or filing procedures in accordance with the relevant provisions of the administrative department. The details are as follows:
1、 Basic information of the wholly-owned subsidiary to be cancelled
1. Basic information
Company name: Hubei Huanyi Chemical Co., Ltd
Unified social credit Code: 91420981ma48a66x0q
Enterprise type: limited liability company (sole proprietorship of legal person invested or controlled by non natural person) domicile: No. 26 Tuanjie Avenue, dongmafang, Yingcheng City
Legal representative: Lu Qiang
Registered capital: 349314700 yuan
Date of establishment: May 23, 2016
Business scope: Sales of chemical products, undertaking scientific research, design, development of by-products, equipment manufacturing, installation and construction projects related to synthetic ammonia industry; Leasing and information consultation of chemical machinery and equipment and real estate; Production and sales of steam; Human resources services (except labor dispatch). (for projects subject to approval according to law, business activities can be carried out only after approval by relevant departments)
2. Ownership structure
The company holds 100% equity of Huanyi chemical.
3. Financial data of recent year
According to the audit report issued by Daxin certified public accountants, as of December 31, 2021, Huanyi chemical had audited total assets of 224.7787 million yuan, total liabilities of 0 million yuan and net assets of 224.7787 million yuan. In 2021, it realized operating income of 61.8211 million yuan and net profit of -4.6498 million yuan.
2、 Reasons for this cancellation and its impact on the company
1. Huanyi chemical was established mainly for the upgrading project of synthetic ammonia industry. Later, the project construction stalled due to fund-raising and other reasons.
On March 9, 2021, the parties concerned signed the rescue and restructuring agreement of Hubei Shuanghuan Chemical Group Co., Ltd. (for details, see the progress announcement on the restructuring of Shuanghuan group issued on March 10, 2021, Announcement No. 2021-017). According to the rescue and restructuring agreement, relevant parties have invested in the establishment of Yingcheng Hongyi Chemical Technology Co., Ltd. to implement the synthetic ammonia industry upgrading and transformation project, and its transformation scheme is more thorough and comprehensive than that of Huanyi chemical. Accordingly, the company decided to cancel its wholly-owned subsidiary, Huanyi chemical.
2. Cancellation of Huanyi chemical will not affect the company's daily production and operation.
3. As of December 31, 2021, the total liabilities of Huanyi chemical were RMB million. After cancellation, its assets were owned by the wholly-owned shareholder Shuanghuan technology. However, before and after cancellation, it will not have a significant impact on the consolidated financial statements of Shuanghuan technology.
4. After this cancellation, Huanyi chemical will no longer be included in the scope of the company's consolidated financial statements, will not have a significant impact on the company's overall business development and financial status, and will not damage the interests of the company and all shareholders, especially minority shareholders.
3、 Documents for future reference
1. Resolutions of the 6th meeting of the 10th board of directors
Hubei Shuanghuan Science And Technology Stock Co.Ltd(000707) board of directors
January 20, 2022
