Changzhou Chemical Plant plans to transfer 360 million yuan in Jiangdong Chemical Salt or delist it

Information of the Jiangsu Provincial Property Rights Exchange, approved by the State-owned Assets Supervision and Administration Commission of Changzhou Municipality, Changzhou Chemical Factory has publicly transferred 89.92% of the state-owned equity of Jiangsu Jiangdong Chemical Industry Co., Ltd. with a reference price of 3,619,950,800 yuan. The expiration date for the listing is February 11.
As required in the announcement of the transfer, the bidder shall have experience in the production, operation, and management of chemical raw materials and chemical manufacturing. The total assets in the 2008 audited financial statements shall not be less than 25 billion yuan, and the annual sales revenue shall be no less than 12 billion yuan. Not less than 300 million yuan. The project does not accept Consortium registration.
On December 25, 2009, China National Salt Industry Corporation signed a framework agreement with Changzhou Investment Group Co., Ltd. for the acquisition of state-owned equity of Jiangsu Jiangdong Chemical Co., Ltd. in Beijing. Changzhou Chemical Factory is a subsidiary of Changzhou Investment Group Co., Ltd. Therefore, if there is no accident, the Zhongyan Corporation should become the final winner of the transferee.
According to public information, Jiangsu Jiangdong Chemical Co., Ltd. was established in 2001 with a registered capital of 88.9 million yuan. The company is a comprehensive chemical enterprise based on the production of chlor-alkali products. It is also one of the key chlor-alkali enterprises in the country and has the right to self-import and export. The company has 170,000 tons of caustic soda equipment, 200,000 tons of polyvinyl chloride, 25,000 tons of toluene chloride, 10,000 tons of trichlorosilane.
Jiangdong Chemical Company also has a chemical company Changzhou Xindong Chemical Development Co., Ltd. The company's registered capital is 76 million yuan, with 160,000 tons of caustic soda equipment, 80,000 tons of polyvinyl chloride, 120,000 tons of vinyl chloride, 30,000 tons of chlorinated isocyanuric acid.
The transfer announcement stated that after assessment, the total assets of Jiangdong Chemical Company were 1350.9157 million yuan, of which net assets were 405,022,000 yuan. The corresponding assessment value of the transfer target is 3,619,950,800 yuan. The assessment date is July 31, 2009.
After the equity transfer, Changzhou Chemical Factory will no longer hold the equity of the company. In addition to Changzhou Chemical Plant, the equity structure of Jiangsu Jiangdong Chemical Industry Co., Ltd. is also comprised of 0.787% equity held by Northern Chemical Technology Co., Ltd., 0.787% equity held by Changzhou Chemical Research Institute Co., Ltd., and five natural person shareholders. 8.506% of the equity.