Thread Content
Huachang Chemical Increases Investment in Aerogel Material Company Author/Source: Sinochem News Network Date: 2021-03-09 Clicks: 5 On March 4, Huachang Chemical issued a announcement regarding its investment in a company that produces aerogel materials. On that day, the company and its relevant partners signed the \"Capital Increase Agreement regarding Aibai Ai New Materials Co., Ltd.\" with regard to making an external investment to increase the capital of a company specializing in aerogel materials. Based on the evaluation report and subsequent discussions, the registered capital of the target company, Aibai Ai New Materials Co., Ltd., prior to investment was 85.35 million yuan, with a valuation of 600 million yuan. The company plans to contribute 50 million yuan in cash to Aibai Ai New Materials Co., Ltd., which represents 71.125% of the registered capital; the remaining 42.8875 million yuan will be recorded as capital reserve. After this investment, the company’s share of the registered capital will be 7.04%. Huachang Chemical stated that, in line with its development plan, it intends to expand into the field of new materials. The main purpose of this foreign investment is to enter relevant fields through cooperation with partners, with further discussions planned on establishing partnerships in the upstream segment of the aerogel material industry chain. Upon completion of this investment, it will enable the company to enter the aerogel materials sector, providing opportunities for the development of new sources of economic growth in the future.