Binhua Chemical Co., Ltd. announced today that it intends to raise funds not exceeding RMB 1.8 billion at the original issue price of not less than RMB 18.27 per share. It is planned to raise investment projects for the “relocation of chemical branches and comprehensive technological transformation projectsâ€, “ On the basis of comprehensive utilization of waste slag brick projects, "30,000 tons/year hydrogen peroxide project" and "20,000 tons/year water treatment agent project" were added.
Binhua said that China’s hydrogen peroxide industry has great potential for development. After the 30,000-ton/year hydrogen peroxide project is completed, it is expected to have an annual average operating income of 128 million yuan, an average annual profit of 48.75 million yuan, and 20,000 tons/year. The water quality treatment agent project is expected to achieve an average annual operating income of 94.63 million yuan, and an average annual profit of 18.94 million yuan.
At the same time, the company’s mid-year report announced that the prices of propylene oxide and caustic soda continued to rise in the first half of the year and the release of new perchloroethylene production capacity contributed to a doubling growth in performance. In the first half of the year, the company realized operating income of 2.328 billion yuan, an increase of 37.34% year-on-year, and realized a net profit attributable to the parent company of 353 million yuan, an increase of 126.93% over the same period of last year, and a basic earnings per share of 0.53 yuan after deducting non-recurring gains and losses.
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