Anhui Xingxin plans to build a project for the production of resorcinol and catalysts

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The 25th National \"Safety Production Month\" in 2026: Everyone should talk about safety and know how to handle emergencies; identify and address potential risks and hazards. -------------------------------------------------- On May 27, Shaoxing Xingxin New Materials Co., Ltd. issued a statement indicating that it plans to use 155 million yuan of the funds raised in excess of what was needed for its operations to increase capital in its wholly-owned subsidiary, Anhui Xingxin New Materials Co., Ltd. This capital will be used to carry out the project aimed at producing 10,500 tons of 4,4’-biphenol derivatives and 150 tons of metal-supported catalysts per year. The remaining approximately 20.5502 million yuan of the excess funds will be used to strengthen the company’s working capital. The project investment overview announcement indicates that the total investment in this new project is 155 million yuan, and it will be implemented in two phases over a construction period of 3 years. The first phase will enable the production of 10,500 tons per year of 4,4’-biphenol derivative products, while the second phase will allow for the production of 150 tons per year of metal-supported catalysts. The entity responsible for implementing the project is Anhui Xingxin, a wholly-owned subsidiary of the company, and the implementation location is in Dongzhi County, Anhui Province. According to the announcement, 4,4’-biphenol, as an important organic intermediate in fields such as engineering plastics and liquid crystal materials, has broad market prospects. According to QYResearch data, the global market revenue for 4,4-biphenol used in thermoplastics reached 1.33 billion yuan in 2023. It is expected to reach 1.84 billion yuan by 2030, with a compound annual growth rate of 4.8%. Loaded metal catalysts are widely used in industrial reactions such as hydrogenation, oxidation, and reforming, and there is a growing demand for them in emerging industries such as new energy and biomedicine. Use of proceeds: Xingxin New Materials conducted its initial public offering in December 2023, raising a total of 902 million yuan in funds, with a net amount of 809.588 million yuan. Of this amount, the excess proceeds amounted to 259.588 million yuan. As of April 30, 2026, the utilization and remaining balance of the company’s excess funds are as follows: Funds already used from the excess amount: 93.6921 million yuan (for the expansion of the 4,000 t/a triethylenediamine production facility). Amount of excess funds proposed to be used this time: 155 million yuan (for capital increase in new projects). Amount intended to be allocated permanently as working capital: 20.5502 million yuan (representing 7.92% of the total excess funds). After this usage, all excess funds will be exhausted.