The Project for Raising RMB 850 Million Yuan of Yongdong Approved

On March 19, Shanxi Yongdong Chemistry Industry Co., Ltd. issued a proclamation that its non-public issued stock application was approved by China Securities Regulatory Commission, and RMB 850 Million Yuan raised would be fully invested into the project of coal-based needle coke with the annual output of 40,000 tons and deep-processing project of absorber oil with the annual output of 50,000 tons.

According to the previously disclosed plan, the proposed shares to be issued by Yongdong will not exceed 66.6 million shares, and the fund raised will not exceed RMB 850 Million Yuan. After the successful completion and operation of the equity investment project, this company will add fine chemical products such as needle coke, medium quality absorber oil, heavy quality absorber oil, naphthalene anhydride and industrial methylnaphthalene. On the one hand, the industrial chain of the company has been further extended; on the other hand, it can enrich the product structure and become a new profit growth point.

Yongdong has been focusing on the continuous extension and efficient utilization of the deep-processing industrial chain of coal tar for a long time. It is committed to the research, development and production of high-quality carbon black products and fine processing products of coal tar, forming a sustainable and circular industrial mode by dynamic integration of “coal tar processing + carbon black production + exhaust power generation + fine chemical industry”. 

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