The project of Yida Shares’ holding subsidiary to produce 200,000 tons per year of propylene oxide derivatives has been approved for registration

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On February 24, Yida Co., Ltd. (300721.SZ) issued a announcement stating that its holding subsidiary, Taixing Yida Chemical Co., Ltd., has officially obtained the approval certificate for the investment project in Jiangsu Province. The project under registration is one for the annual production of 200,000 tons of propylene (ethyl) oxide derivatives, with a total investment of 642 million yuan; construction is scheduled to begin in 2026. According to the announcement, once completed, the project will have an annual production capacity of 200,000 tons of high-end specialty alkoxy ethers and alkoxy ether esters, including 155,000 tons of propylene (ethylene) glycol ethers and 45,000 tons of propylene glycol ether esters, of which 50,000 tons will be wet electronic chemicals. It is worth noting that this project underwent a plan adjustment. On February 12, Yida Co., Ltd. announced that due to the impact of the Yangtze River’s \"one-kilometer\" shoreline policy on the original site for project construction, Taixing Yida made overall adjustments to the original \"technology upgrade project for the production of 220,000 tons per year of propylene (ethylene) oxide derivatives\" – the production volume of trihydroxyethyl isocyanurate was reduced by 20,000 tons, the total investment in the project was cut from 845 million yuan to 642 million yuan, and the location of the project was changed to No. 1, Tongjiang Road and Zhonggang Road, Taixing Economic Development Zone. Prior to this, Taixing Yida completed the absorption merger of its wholly-owned subsidiary Wanqi Biotechnology (Taizhou) Co., Ltd. at the beginning of this year; all of Wanqi’s assets, liabilities, employees, and business operations were taken over by Taixing Yida. After the merger, Taixing Yida’s registered capital remained unchanged at 720 million yuan. Yida Co., Ltd. is mainly engaged in the research, development, production, and sales of chemical products such as alkoxyethers, alkoxy ether esters, hydrogen peroxide, and propylene oxide. The company’s previously released forecast for its performance in 2025 indicated that the net profit attributable to the parent company for the whole year was expected to be in the range of 100 million yuan to 120 million yuan in loss, with the main reason being that the decline in sales prices of alcohol ether and alcohol ether ester products was greater than the decline in costs. The company stated in its announcement that it will accelerate the implementation of projects related to propylene (ethylene) oxide derivatives, make full use of the advantages offered by the upstream and downstream industries associated with propylene oxide, explore further opportunities to reduce costs, and enhance its overall profitability.