Invest $2.123 billion! Zhangzhou Dahua proposed to build an annual output of 100,000 tons of polycarbonate (PC) project.

Polycarbonate (PC) has become the fastest growing general purpose engineering plastic among the top five engineering plastics. Production technology is mainly photogas and ester exchange method, although China's PC demand is larger, but the self-severity rate is low, in order to improve the self-severity rate, domestic enterprises to step up technology research and development, have started, expand the production of PC projects. Luzhou Dahua has also been seeking photogas interface polycarbonate (PC) technology for many years, the following together to understand the following....
. Recently, Zhangzhou Dahua issued an announcement on the investment and construction of 100,000 tons of PC project, the 14th meeting of the company's 7th board of directors considered and approved the "proposal on investment and construction of 100,000 tons of PC project", agreed to invest in the construction of 100,000 tons of polycarbonate (PC project) (hereinafter referred to as "PC project"), the total investment of the project is 212.28625 million yuan (about 2.123 billion)Covers an area of 366,766.35 square meters (550 acres of contract), including an annual output of 100,000 tons of PC production equipment, auxiliary production equipment, public works equipment, public systems, off-site engineering and other construction.
project is expected to be completed and put into operation by October 2020.
, this investment is conducive to give full play to the company's advantages in the production of photogas products, expand the range of photogasification products. After the completion of PC project construction, will become the company's new profit growth point, is conducive to the company to change the status quo of a single product, improve the enterprise's ability to resist risks. Recently has been 70% of the project investment funds (about 1.5 billion or so) bank loan approval, the company will co-ordinate the fund arrangements, reasonable determination of the payment method of funds, payment arrangements, etc., to ensure the smooth implementation of the project.
It is understood that the company is the core enterprise of domestic photogas TDI production, the production of photogas has many years of experience, the construction of photogas as raw materials for the follow-up series of products have certain advantages, the company in order to enhance the comprehensive competitiveness and risk resistance in the industry, for many years has also been seeking photogas interface polycarbonate (PC) technology. Zhangzhou Dahua New Materials Co., Ltd. (hereinafter referred to as "New Materials Company") has an international advanced photogas interface polycarbonate production technology and government approved annual output of 100,000 tons of polycarbonate (PC) projects. In order to give full play to the experienced advantages of photogasification production, the company to build national policy support projects, increase the variety of photogasification products, special acquisition of new materials companies for PC project construction.
2019, the company through the property rights trading center publicly delisted 100% of the new materials company, THE PC project is in the early stage of construction, after the successful delisting, by Zhangzhou Dahua to continue to invest in construction. In order to take advantage of the company's light gas point, after the completion of the aforementioned acquisition, the company through internal asset restructuring of the new materials company polycarbonate (PC) project transferred to Zhangzhou Dahua Co., Ltd. under the Polyhai Branch for construction.
addition, Zhangzhou Dahua recently disclosed its 2019 annual report, the company in 2019 achieved total operating income of 2.11 billion yuan, down 52.5% YoY; , down 95.4% YoY, an increase from the same period last year, and the company's gross margin for the reporting period was 11.8%, down 34.7 percentage points YoY and net margin was 1.2%, down 23.0 percentage points YoY.
.