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On February 12, Qixiang Tengda received a letter from Shandong Energy Group New Materials Co., Ltd. (hereinafter referred to as “Shandong Energy New Materials”), titled “Notice from Shandong Energy Group New Materials Co., Ltd. on the Progress of the Offer to Acquire Zibo Qixiang Tengda Chemical Co., Ltd.” The notice states that this tender offer was triggered by Shanneng New Materials, as the reorganization investor, obtaining 80% of the shares in Zibo Qixiang Petrochemical Group Co., Ltd. (hereinafter referred to as “Qixiang Group”) through the reorganization process, thereby gaining indirect control over 45.91% of the shares in Qixiang Tengda held by Qixiang Group. As of the date of this announcement, the tender offer has been approved in accordance with the \"Opinions of the State-owned Assets Supervision and Administration Commission of Shandong Province on Shandong Energy Group New Materials Co., Ltd. Acquiring Control Rights over Qixiang Tengda\" (Lu Guo Zi Shou Yi Zi [2022] No. 50). In accordance with relevant laws, regulations and regulatory documents, this tender offer still needs to undergo review by the Antitrust Bureau of the State Administration for Market Regulation regarding concentration of undertakings, and the relevant review processes are currently in progress. ShanNeng New Materials and all relevant parties are actively advancing various tasks. Once the necessary approvals are obtained, ShanNeng New Materials will notify Qixiang Tengda in a timely manner, and shall issue a tender offer report in accordance with relevant laws and regulations once the conditions for a tender offer are met. It is understood that on November 14, 2022, Qixiang Tengda disclosed the \"Summary of the Tender Offer Report\", the \"Announcement on the Progress of the Restructuring of the Controlling Shareholder and the Court’s Approval of the Restructuring Plan\" (Announcement No.: 2022-108), the \"Warning Announcement Regarding the Potential Change in the Actual Controller of the Company\" (Announcement No.: 2022-109), and the \"Warning Announcement Regarding the Receipt of the Summary of the Tender Offer Report\" (Announcement No.: 2022-110). If the reorganization plan is implemented successfully, the actual controller of the company will change. The company’s controlling shareholder will remain Qixiang Group, while the indirect controlling shareholder will change to Shanneng New Materials; the actual controller will then be the State-owned Assets Supervision and Administration Commission of Shandong Province. Public information shows that Shanneng New Materials is a wholly-owned subsidiary of Shandong Energy Group Co., Ltd., and it serves as the investment and management entity for the development of the new materials industry within Shandong Energy Group. Zibo Qixiang Tengda Chemical Co., Ltd. (hereinafter referred to as “Qixiang Tengda”) was established on January 4, 2002. It was listed on the Shenzhen Stock Exchange on May 18, 2010; its stock abbreviation is “Qixiang Tengda”, and its stock code is 002408. To date, Qixiang Tengda has a registered capital of 1,775.21 million yuan and employs over 2,000 full-time staff. It owns wholly-owned subsidiaries such as Qingdao Siyuan Chemical Co., Ltd., Qixiang Tengda(**) Co., Ltd., and Zibo Qixiang Tengda Supply Chain Co., Ltd., as well as holding subsidiaries including Zibo Tenghui Oil Chemical Co., Ltd. and Shandong Qilu Keli Chemical Research Institute Co., Ltd. The company currently has two main manufacturing sites in Zibo and Qingdao. The Zibo site covers an area of 2,295 mu and is equipped with three main production workshops: Workshop A and Workshop B, a rubber factory, and an anhydride factory. In addition, there are five auxiliary units on site, including a storage and transportation facility, a water and steam processing unit, a quality inspection and measurement center, a maintenance company, and an electrical and instrumentation center. The company’s wholly-owned subsidiary, Qingdao Siyuan Chemical Co., Ltd., covers an area of 230 mu and includes production workshops for both Type A and Type B products as well as auxiliary production facilities. Since its establishment, Qixiang Tengda has focused on the expansion of the carbon tetrafluoride industry chain, and has now developed a comprehensive range of products based on carbon tetrafluoride components. It currently has the capacity to produce annually 180,000 tons of MEK, 150,000 tons of butadiene, 50,000 tons of cis-butyl rubber, 150,000 tons of maleic anhydride, 200,000 tons of isooctane, 350,000 tons of methyl tert-butyl ether (MTBE), 100,000 tons of propylene, 30,000 tons of isobutylene, 62,000 tons of tert-butanol, 20,000 tons of carboxybenzene styrene latex, and 50,000 tons of potassium p-hydroxybenzoate. Among them, the flagship products possess multiple core manufacturing technologies; they hold a domestic market share of around 46%, with exports accounting for over 70% of the total country’s exports. The maleic anhydride production facilities use butane-based production processes, and the resulting products are exported to various countries and regions. Shandong Energy Group New Materials Co., Ltd. was established in July 2022. It serves as an investment platform and management entity for the new materials industry, created by Shandong Energy Group in order to implement the \"six core business areas\" outlined by the Shandong Provincial Party Committee and the provincial government. The company’s headquarters is located in Zhangdian District, Zibo City. It has a registered capital of 3 billion yuan. It owns 1 listed company, 2 companies listed on the \"New Third Board\" platform, 8 high-tech enterprises at the ** level, 20 provincial-level scientific research and innovation platforms, 3 manufacturing enterprises that are recognized as industry champions, 9 \"gazelle\" enterprises at the municipal level or above, and 9 \"specialized, refined, distinctive, and innovative\" enterprises. Its business operations are carried out in 4 cities including Zibo, Jinan, Linyi, and Jining, with over 5,000 employees. Since its establishment, the company has focused on extending and strengthening industrial chains as well as optimizing existing assets, while also pursuing industrial mergers and reorganizations to expand capacity. It has established a new materials industry fund worth billions of yuan, and initiated the construction of a first-class domestic and the first such park in the province dedicated to the circular economy of calcium-based new materials. Its glass fiber production capacity ranks among the top four in the country. The company has developed its own high-performance long-carbon-chain nylon products, filling a gap in the domestic market, and it also boasts a leading domestic provider of Internet+ integrated industrial services. Standing at the forefront of the new era, new industries, and new journeys, the new materials company will closely align itself with Shandong Energy Group’s vision of accelerating its development into a provider of clean energy solutions and a world-class enterprise. Adhering to the core values of \"safety, innovation, sustainability, responsibility, and excellence,\" it will focus on achieving the goal of becoming a world-class new materials industry group. It will work to optimize existing operations while making progress in new areas of development, creating four key industrial clusters dedicated to calcium-based new materials, high-end chemical new materials, fibers and composite new materials, and optoelectronic new materials. The company aims to become an enterprise that excels in five aspects: profitability, innovation capacity, management level, party building, and employee welfare. By the end of the 14th Five-Year Plan period, it aspires to achieve an output value of 100 billion yuan, with its core industries leading the world and ranking among the best in China.