Yuxin’s net profit in the first half of the year was 210 million yuan, and it plans to acquire 10% equity of Brocade New Materials for 10 million yuan

Latest News: Yuxin released the 2022 semi-annual report. In the first half of 2022, the domestic economic cycle was seriously affected by the epidemic, but the international market gradually recovered with the adjustment of epidemic control policies. The company’s 150,000-ton/year maleic anhydride project has reached full production capacity, and projects under construction such as the first phase of comprehensive utilization of PBAT, butanone and light hydrocarbons are advancing rapidly. The company has overcome difficulties, made concerted efforts, and worked hard to achieve the established goals of continuous and stable production safety, steady growth of economic benefits, rapid project construction and continuous improvement of management level. The market price of the company’s main business products has risen, and the revenue and efficiency have increased significantly compared with last year. During the reporting period, the company achieved operating income of 2.972 billion yuan, a year-on-year increase of 122.99%, and the net profit attributable to owners of the parent company was 210 million yuan, a year-on-year increase of 92.04%.

Yuxin shares plan to acquire 10% equity of Brocade New Materials for 10 million yuan

Yuxin Co., Ltd. issued an announcement that the company intends to acquire a 10% stake in Huizhou Brocade Environmental Protection New Materials Co., Ltd. (hereinafter referred to as “Boke New Materials”) held by Mr. Hu Xiannian (corresponding to the 20 million yuan subscribed capital contribution of Brocade New Materials, The corresponding paid-in capital is 10 million yuan), and the transfer price is 10 million yuan.

Mr. Hu Xiannian is the chairman, controlling shareholder and actual controller of the company, and has an associated relationship with the company. According to the “Shenzhen Stock Exchange Listing Rules”, this transaction constitutes a connected transaction, but does not constitute a major asset restructuring as specified in the “Administrative Measures for Major Asset Restructuring of Listed Companies”.

After the completion of this transaction, the registered capital of Brocade New Materials is still 200 million yuan, and the company’s shareholding ratio of Brocade New Materials has increased from 70% to 80%. Mr. Hu Xiannian will no longer hold the equity of Brocade New Materials.