The red wall Shaanxi 60,000-ton paint project terminated the investment because the project land was not obtained
Latest News: On October 31, Guangdong Hongqiang New Materials Co., Ltd. (Hongqiang), a supplier of concrete external additives, announced the termination of its wholly-owned subsidiary Shaanxi Hongqiang 300,000 tons of concrete external additives and 60,000 tons of concrete external additives. tons of green paint projects.
Hongqiang explained that because the original planned land for the proposed project could not be obtained due to objective reasons, after repeated coordination by Hongqiang, the land that met the needs of the project could not be obtained within the expected time, resulting in the project being unable to continue. In view of the above situation, Red Wall intends to terminate the above foreign investment projects.
In June 2021, Shaanxi Hongqiang New Materials Co., Ltd., a wholly-owned subsidiary of Hongqiang, signed an “Investment Agreement” with the Weibei Coal Chemical Industrial Park Management Committee. The agreement stipulated that Shaanxi Hongqiang plans to acquire about 45 acres of land in the Weibei Coal Chemical Industrial Park. , for the construction of a new production line with an annual output of 300,000 tons of concrete admixtures and 60,000 tons of green environmental protection coatings. The total investment of the project is estimated to be about 220 million yuan.
It is understood that after the project is terminated, Shaanxi Red Wall will continue to develop business in the local and surrounding markets by adopting asset-light operation models such as leasing and entrusted processing.
Huizhou Hongyu Paint is a business subsidiary of Hongqiang entering the coating field. It mainly provides customized architectural coating products for Hongqiang Group customers, including imitation stone coatings, inorganic coatings, exterior wall coatings and latex paint products. At the beginning of 2021, Hongqiang Co., Ltd. officially won the final 85 mu land for fine chemical industry in the second phase of Zhonghai Shell Phase II of Daya Bay Petrochemical Industrial Park in Huizhou, Guangdong, one of the seven petrochemical industry bases in China and the only national petrochemical base in the Guangdong-Hong Kong-Macao Greater Bay Area. The total investment is 660 million yuan, and it is expected to be put into operation in the first quarter of 2023, officially sounding the clarion call to enter the field of fine chemicals. The company will take advantage of the resources and cost advantages of Huizhou Daya Bay Zhonghai Shell pipeline to transport ethylene oxide raw materials, extend to the raw materials of the upstream industry chain of concrete admixtures, and take advantage of the opportunity to enter the fine chemical industry, producing and selling fine chemical products in Guangdong Province to replace Similar products outside the province. After it is completed and put into production, it is estimated that the annual output value will be 3 billion yuan, and the profit and tax will be more than 300 million yuan.
Hongqiang Co., Ltd. has made innovative development in the field of fine chemical raw materials urgently needed in the market, such as ethylene oxide and propylene oxide derivatives. Under the policy environment of strong national support and favorable fine chemical industry at home and abroad, in the near future, Hongqiang shares will form a good situation in which the two main businesses of concrete admixtures and fine chemicals will fly together, and it is expected to reach an output value scale of 5 billion yuan in five years. , will drive the company’s performance to maintain high growth.