YAXING CHEMICAL plans to introduce strategic investment of 220 million yuan for its subsidiary YAXING NEW MATERIALS
YAXING CHEMICAL plans to introduce a strategic investment of 220 million yuan through its wholly-owned subsidiary, mainly for the main business expenses of YAXING New Materials. This financing is conducted at a pre-investment valuation of approximately 700 million yuan, with investors including Dongneng Jiayuan, Guoyun Comprehensive Reform, Guokong Capital, and Guotou Asset. After the financing, YAXING CHEMICAL's shareholding ratio in YAXING New Materials will be reduced to 76.08%, still making it a controlling subsidiary. This move will help optimize the company's industrial layout and capital structure, enhancing profitability
According to the Zhitong Finance APP, YAXING CHEMICAL (600319.SH) announced that the company plans to introduce strategic investors through its wholly-owned subsidiary Weifang YAXING New Materials Co., Ltd. (referred to as "YAXING New Materials"). YAXING New Materials intends to raise funds at a pre-investment valuation of approximately 700 million yuan, with a total financing amount of 220 million yuan. The funds will mainly be used for expenditures related to the main business of YAXING New Materials. The company has waived its preferential subscription rights for this round of financing.
Recently, Shandong Dongneng Jiayuan Venture Capital Fund Partnership (Limited Partnership) (referred to as "Dongneng Jiayuan") plans to invest 100 million yuan to subscribe for an increase in registered capital of 85.727353 million yuan in YAXING New Materials; Guoyun Comprehensive Reform Winning (Qingdao) Investment Partnership (Limited Partnership) (referred to as "Guoyun Comprehensive Reform") plans to invest 80 million yuan to subscribe for an increase in registered capital of 68.581882 million yuan in YAXING New Materials; Shandong Guokong Capital Investment Co., Ltd. (referred to as "Guokong Capital") plans to invest 25 million yuan to subscribe for an increase in registered capital of 21.431838 million yuan in YAXING New Materials; Shandong Guotou Asset Management Co., Ltd. (referred to as "Guotou Asset") plans to invest 15 million yuan to subscribe for an increase in registered capital of 12.859103 million yuan in YAXING New Materials. YAXING CHEMICAL and YAXING New Materials are signing relevant agreements with Dongneng Jiayuan, Guoyun Comprehensive Reform, Guokong Capital, and Guotou Asset.
After the completion of this round of financing, the company's equity stake in YAXING New Materials will change from 100% to 76.08%, and YAXING New Materials will still be a controlled subsidiary of the company. The announcement stated that the introduction of strategic investors is beneficial for promoting the company's industrial layout and capital structure adjustment, achieving strategic cooperation, accelerating the construction process of new projects, and enhancing sustainable profitability
