On January 29, Hongyang New Materials (874267) recently announced that the company intends to sign a "project cooperation agreement" with the people of Xinghe County, Ulanqab City, and invest in a new "annual output of 55."200,000 tons of ferroalloy smelting project", the project plans to invest 1.3 billion yuan, divided into two phases of construction. (The specific content of the agreement is subject to the actual signed version).
The company will actively organize, coordinate and effectively manage relevant resources to ensure the implementation of the content of the agreement. However, during the performance of the agreement, there may be risks that the agreement cannot be fully performed, partially performed, postponed, adjusted or terminated due to force majeure and other factors, and the actual transaction amount of the agreement is uncertain, so investors are advised to pay attention to prevent investment risks.
The project plans to set up a holding subsidiary in Xinghe Industrial Park, Ulanqab City, as a project company, with a registered capital of 100 million yuan, an investment amount of 95 million yuan, holding 95% of the shares, and Shao Zhuhang, a shareholder and director of the company, holding 5% of the shares, all of which are funded in currency, and the relevant registration information is subject to the registration and approval of the local market supervision and management department.
Basic information of the investment target:
Name: Hongyang New Materials (Inner Mongolia)**
Registered address: Area C, Xinghe County Industrial Park, Ulanqab City, Inner Mongolia Autonomous Region.
Main business: power generation business, power transmission business, power supply (distribution) business. (Projects subject to approval in accordance with the law can only be carried out after approval by relevant departments, and specific business projects are subject to the approval documents or licenses of relevant departments) General projects: new material technology research and development; ferroalloy smelting; sales of metal materials; metal ore sales; Import and export of goods. (Except for projects subject to approval in accordance with the law, independently carry out business activities with a business license in accordance with the law).
The main contents of the foreign investment agreement: the listed company and the shareholder and director Shao Zhuhang plan to jointly invest in the establishment of a holding subsidiary "Hongyang New Materials (Inner Mongolia)** Registered address: Area C, Xinghe County Industrial Park, Ulanqab City, Inner Mongolia Autonomous Region, with a registered capital of RMB 100 million, the company intends to contribute RMB 95 million, accounting for 95% of the registered capital, Shao Zhuhang intends to invest RMB 5 million, accounting for 5% of the registered capital, the name and registered address of the holding subsidiary to be established, The scope of business is subject to the final approval of the market supervision and administration department.
The purpose of this foreign investment: This foreign investment is the strategic layout of the company, to further enhance the comprehensive competitiveness, and is conducive to the long-term development of the company.
Risks of this outbound investment: This outbound investment is based on the company's prudent decision on the long-term strategic layout, but it may still face risks caused by uncertainties in operation management, macroeconomy and other uncertainties in the actual operation process. In view of the above-mentioned risks, the Company will not improve the internal control system, strengthen the supervision and control of the operation and management of subsidiaries, and prevent and respond to various risks.
In addition, the company will actively organize, coordinate and effectively manage relevant resources to ensure the implementation of the content of the "Project Cooperation Agreement", but in the process of performing the agreement, it may encounter the risk that the agreement cannot be fully performed, partially performed, postponed, adjusted or terminated due to force majeure and other factors, and the actual transaction amount of the agreement is uncertain, so investors are advised to pay attention to prevent investment risks.
The impact of this foreign investment on the company's operation and finance: This foreign investment is still in the implementation stage of the plan, and will not have an impact on the company's financial condition and operating results in the short term.
This foreign investment is the need of the company's business development, but also an important measure to enhance the company's profitability and competitiveness, there is no impact on the company's financial status and the company's normal operation, will not have an adverse impact on the company's future financial situation and operation, there is no damage to the interests of the company and all shareholders.
According to the data of digging shellfish, Hongyang New Materials has been mainly engaged in the technical research and development, production and sales of high-carbon ferrochrome series products since its establishment, and the main sales products are divided into ordinary silicon, low-silicon and high-carbon ferrochrome according to different silicon content.