In July, the Shenzhen Stock Exchange reviewed and approved Hongqiang’s convertible bond application. On October 18, Hongqiang completed the placement of 316 million yuan of convertible bonds. The funds raised will be mainly used for its annual production of 320,000 tons of ethylene oxide and propylene oxide derivatives project in Daya Bay, Huizhou, Guangdong. It is reported that in order to further consolidate its position in the industry and expand future development space, Red Wall Co., Ltd. has simultaneously formed a strategic cooperation with CNOOC and Shell, a Fortune 500 company, and entered the Huizhou Daya Bay Petrochemical Industrial Park, a national chemical park, to advance upstream and develop upstream ethylene oxide and Propylene oxide derived fine chemical products.
According to the plan, the total investment amount of the project is approximately 661 million yuan, and the raised funds are planned to be invested in 316 million yuan. It is planned to build a polyether monomer production line with an annual output of 150,000 tons of water reducing agent, a non-ionic surfactant production line with an annual output of 70,000 tons, a polyether polyol production line with an annual output of 20,000 tons, a hydroxyl acrylate production line with an annual output of 40,000 tons and Production line of polycarboxylic high-performance water-reducing agent with a capacity of 40,000 tons.
Hongqiang Co., Ltd. stated that the company plans to develop and produce polyether monomers to achieve the goal of synthesizing multifunctional admixture products, which will meet the diversified needs of the downstream market and enhance the company’s product competitiveness. Entering the production of polyether monomers is the first step in the company’s integration of the polycarboxylic acid admixture industry chain, and will become a new starting point for further improving the layout of admixture products.
At the same time, the company’s investment project is expected to add a polycarboxylate water-reducing agent production line and its raw material polyether monomer and acrylate hydroxyester production lines, which will expand the production capacity of the company’s main products and produce polycarboxylic acid additives for the company. The agent provides raw material guarantee and effectively guarantees the company’s production efficiency.
In addition, the investment project also plans to produce polyether polyols and nonionic surfactants. According to reports, polyether polyols and nonionic surfactants are new products of the company and will become the tentative development foothold of the company’s fine chemical business. After the project is completed, it is expected to further improve the company’s product layout and increase the overall revenue level.
From January to June 2023, Hongqiang Shares achieved operating income of approximately 386 million yuan, a year-on-year decrease of 15.17%; the net profit attributable to shareholders of the listed company was approximately 51.2336 million yuan, a year-on-year increase of 35.91%; and the non-net profit after deduction was 42.9189 million yuan. , a year-on-year increase of 98%. Hongqiang Co., Ltd. said that the concrete admixture industry is currently in a period of adjustment. In 2022, Hongqiang Co., Ltd.’s admixture business will vigorously develop China’s top ten concrete and cement products companies under active consolidation, and the results have gradually shown results. At the end of the first quarter, the asset-liability ratio of the company’s admixture segment (excluding Daya Bay Petrochemical Project) was about 10%, and the utilization rate of bank credit lines was less than 15%. The company has sufficient ammunition. Hongqiang Co., Ltd., which pursues high-quality development, is expected to see significant improvement in efficiency this year. The fine chemical project will be completed and put into operation within the year, which will bring significant development benefits to Hongqiang Co., Ltd. in the next stage. The company adheres to the business strategy of “quality first” and continuously consolidates its market position. At the same time, we continue to optimize our asset structure and continuously improve operational efficiency and profitability.
Since the explosion of real estate companies such as Evergrande in 2021, the entire real estate industry and the entire building materials industry chain, including the concrete and admixture industries, have entered a downward channel. In the face of profound changes in the external environment, Hongqiang Shares has used defense as offense. From the first half of 2021, it has proactively strengthened sales management, strictly controlled risks, stabilized the company’s existing customers, slowed down the development of new customers, and stepped up the collection of receivables. , solve the commercial bills and debt problems of real estate companies such as Evergrande as soon as possible and consolidate the foundation of the enterprise. With the help of troops from South China that started in 2019, it has entered the national market and made drastic choices in the selection of market areas in 2021. Strategic retreat from markets such as Inner Mongolia, Gansu, Guizhou, Yunnan, Henan, and Hunan. Focus on developing markets in South China, North China, East China, Sichuan and Chongqing, stabilize markets in Shaanxi, Shandong, and Central China, and effectively improve the quality of core markets across the country. At the same time, it formed a strategic cooperation with CNOOC and Shell, one of the world’s top 500 companies, and settled in the Huizhou Daya Bay Petrochemical Industrial Park, a national chemical park, to advance upstream and develop upstream ethylene oxide and propylene oxide-derived fine chemical products.
As Hongqiang Co., Ltd. steadily promotes the upstream and downstream integration of the admixture industry and builds an enterprise that can independently produce and develop upstream high-quality polyether macromonomers and hydroxyl acrylates, Hongqiang Co., Ltd. will build a moat of product competitiveness. Hongqiang Co., Ltd. According to the stock introduction, the company has recently successfully developed and launched to the market products such as concrete accelerating setting agents, concrete release agents, concrete engineering fibers, concrete shrinkage reducing agents, concrete surface enhancers, concrete waterproofing agents, concrete anti-corrosion and rust inhibitors, and cement grouting materials. Other products will also be quickly introduced to the market.
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