Wanhua Chemical plans to sell 100% equity of Shanghai Wanhua Keju

Wanhua Chemical announced that the company plans to publicly list and transfer its 100% equity interest in Shanghai Wanhua Keju, a wholly-owned subsidiary, with an estimated value of 731 million yuan for the entire equity of Shanghai Wanhua Keju

The main background of Wanhua Chemical's proposed transfer to Shanghai Wanhua Keju is that the company's Yantai Cishan Global R&D Center has been completed and put into use, and the Ningbo High Performance Materials Research Institute is under construction.

According to the disclosure, the company plans to publicly list and transfer the 100% equity of the wholly-owned subsidiary Shanghai Wanhua Keju held by the Yantai United Property Rights Exchange Center, and the listing price is not lower than the approved evaluation result

In fact, since Shanghai Wanhua Science and Technology is the main body of the implementation of the Wanhua Shanghai Comprehensive Center project, this transaction can be regarded as the transfer of the raised investment project

Shanghai Wanhua Keju was established on October 25, 2012 with a registered capital of 499.

Regarding this transfer, Wanhua Chemical stated that this transaction further integrates the company's human resources, promotes research and development to better serve production, and at the same time revitalizes assets and improves the efficiency of capital use, which is in line with the company's strategic deployment and actual business development needs.