Yabang Dyestuff Co., Ltd. (hereinafter referred to as “Yabang Co., Ltd.”) recently announced that on January 23, the company’s Lianyungang branch passed the on-site inspection by the relevant departments of Guannan County. The chemical industry in Guannan County is safe and environmentally friendly. The Office of the Leading Group for Rectification and Improvement announced the above matters on the official website of the Guannan County People’s Government. The company will strictly follow the requirements of the production resumption process and resume production after obtaining the approval of the Leading Group for Safety and Environmental Protection Rectification and Improvement of the Municipal Chemical Industry.
Lianyungang Yabang Acid Manufacturing Co., Ltd., a subsidiary controlled by Yabang Co., Ltd., withdrew from Lianyungang Chemical Industry Park due to the adjustment of the park’s positioning. The company has achieved long-term sustainability of Yabang Acid Manufacturing based on its development strategy and business needs. To continue to develop, it is planned to establish a subsidiary company, Gansu Yabang Energy Technology Co., Ltd., in the East Building Materials and Chemical Industrial Park in Yumen, Gansu Province, which will be wholly owned by Yabang Acid Manufacturing. The existing equipment of Yabang Acid Manufacturing will be relocated to Yumen, relying on the existing With advantages in talent, technology, management and other advantages, we will invest in new sulfur acid production, nicotinic acid, chlorosulfonic acid and other projects.
The new projects include a 400,000-ton sulfur acid production unit, a 100,000-ton 20% niacin unit, a 30,000-ton 65% nicotinic acid unit, a 50,000-ton chlorosulfonic acid unit and 10,000 tons sulfur trioxide device. The project is located in the East Building Materials and Chemical Industrial Park in Yumen, Gansu. The planned project land area is about 200 acres, and the construction period is about 12 months. The total project investment is 200 million yuan, and all project investments will be raised by Yabang Acid Manufacturing. Later, the project will be based on the actual situation of the project, including but not limited to the introduction of strategic investors.
After the project is completed, it is expected to achieve annual external sales of 190 million yuan, net profit of 20 million yuan, a return on investment of 19%, and an investment payback period of 5 years.
Public information shows that Yabang Co., Ltd. is mainly engaged in the research and development, production, sales and service of textile dyes and dye intermediates. It has deployed high-end anthraquinone dyes and is the world’s largest anthraquinone structure. A manufacturer of disperse dyes and vat dyes, the company’s main products are in a leading position in the country, and it has a certain say and dominance in product pricing.
ThefinancialreportshowsthatduetothesuspensionofproductioninLianyungangChemicalIndustryPark,Yabang’s revenue fell by 56.07% to 510 million yuan in the first three quarters of 2020, and its net profit loss was 251 million yuan. .
As of the last trading day before publication, Yabang shares closed at 5.01 yuan per share, with a market value of 2.886 billion yuan. </p
