A Chinese petrochemical company to sell part of its equity

• June 16, 2020
• NEED CAPITAL Construction
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Company profile

The petrochemical company is located in a planned city. It was established in 2006 by a joint venture of two leading companies in petro industry with a registered capital of more than 2.4 billion yuan (340 million US dollars). It is mainly engaged in the production and sales of PTA. In 2019, the company was selected into the Green Factory List of China’s Ministry of Industry and Information Technology (MIIT), and entered the top three of the province's top 100 private enterprises.

The company has obvious advantages in operation, with an annual production capacity of 6 million tons. It has the largest single-line production capacity, the lowest energy consumption per unit product, and the smallest total investment per unit product in the industry. All kinds of materials and energy consumption are leading in China. The new multi-functional polyester chip project with an annual output of 1 million tons has been put into operation. In the first half of 2019, the company's total assets reached 15.2 billion yuan (2.17 billion US dollars), total liabilities were 9.4 billion yuan (1.34 billion US dollars), and sales revenue totaled 18.2 billion yuan (2.6 billion US dollars). The profit was considerable.

Sales plan

One of the company's two investors intends to sell its entire equity interest in the company (equity ratio of 15.40%).