Sinochem International plans to raise no more than 5 billion yuan to be used for the first phase of carbon three industry projects, etc.

On the evening of March 25, Sinochem International disclosed the latest announcement that the company held the 23rd meeting of the eighth session of the board of directors, and reviewed and approved ten proposals including the "Proposal on the Company's Non-public Issuance of A Shares"

According to the proposal, Sinochem International intends to issue no more than 829,549,941 shares (including this number) to no more than 35 specific investors, including the company's controlling shareholder, who meet the conditions stipulated by the China Securities Regulatory Commission, and raise no more than 50 billion

The raised funds will be mainly used for the first phase of the company's carbon and three industry projects and to supplement working capital

The carbon three industry project is a key step for Sinochem International to build the whole industry chain of new materials, which is in line with the future development trend of the industry and the implementation needs of the company's development strategy, and can open up new profit growth points and development space for the company

The first-phase project of the carbon three industries, which is mainly invested in the funds raised from this non-public offering, has a total investment scale of 13.

Specifically, the first-phase project of the carbon three industry raised this time is planned to produce 600,000 tons of propane dehydrogenation, 650,000 tons of phenol acetone, 240,000 tons of bisphenol A, 400,000 tons of propylene oxide, and 150,000 tons of cyclohexane.

After the project is put into operation, it is expected to achieve an average annual operating income of 11.

Part of the funds raised from this non-public offering will be used to supplement the company's working capital, which can meet the company's business development needs for working capital, improve the company's sustainable profitability, optimize the company's asset structure, and enhance the company's capital strength

In this fundraising project, Sinochem, the controlling shareholder of the company, will subscribe for no more than 2.

Sinochem International also announced today the proposal to formulate the "Company's Shareholder Return Plan for the Next Three Years (2022-2024)"

Sinochem International always pays attention to shareholder returns

The company's accumulated cash dividends in the past three years are 865 million yuan, and the average annual net profit attributable to owners of the parent company in the last three years is 560 million yuan.