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Yangnong Chemical plans to acquire 913 million yuan in cash to acquire the core assets of Sinochem International Pesticide Business. Form an integrated industrial chain of research, production and sales.

Yangnong Chemical disclosed the draft of major asset purchase on the evening of June 6. The company intends to pay cash, and purchase 100% equity of Sinochem and Sinopec 100% of shares from Sinochem I···...

Yangnong Chemical disclosed the draft of major asset purchase on the evening of June 6. The company intends to pay cash, and purchase 100% equity of Sinochem and Sinopec 100% of shares from Sinochem International at a transaction price of 913 million yuan. The actual controllers of Sinochem International and Yangnong Chemical are Sinochem Group. After the completion of the reorganization, the company will integrate the core assets of Sinopec's internal pesticide business and form a more complete industrial chain integrating research, production and sales, with more complete product categories.

Agricultural research company is a complete professional pesticide research institute for the design and synthesis of new compounds, production process development, pesticide formulation processing, biological activity screening, etc.; Shenyang Kechuang, a subsidiary of Sinochem, is mainly engaged in Miston, Ipox and Pyridoxine. The production and sales of ketone and other original drugs, and the establishment of long-term partnership with a number of international multinational pesticide giants; the registration capacity and channel advantages of Sinochem crops accelerate the development of the company's formulation business. At the same time, Sinochem's parent company and its subsidiaries, Sinochem Agrochemicals, Sinochem Singapore, etc., are mainly engaged in the distribution and trading of pesticide products, and have established domestic and overseas pesticide product sales and product service platforms. The company integrates the core assets of Sinopec's internal pesticide business, forming a complete industrial chain of research, production, and sales integration, effective integration of R&D resources and sales networks, and complementary advantages of products and customers, and fully exerting synergies.

Affected by environmental protection, the long-term supply of the pyrethroid industry chain is limited, and the price of intermediates continues to be high. As the only domestic industrial chain company of pyrethroids, the company has a production capacity of about 8,100 tons of pyrethroids and a market share of 70%. After the "3.21" explosion accident, it is expected to affect nearly 1,500 tons of pyrethroid supply in Yancheng Industrial Park, and the company's prosperity will benefit. In 2018, the sales volume of dicamba was affected by the trade war. In May, the US announced the list of 300 billion Chinese exports to the United States. The dicamba was listed. In the short term, the export situation is difficult to be optimistic, but in the medium and long term, the GM-resistant GM cotton and soybean promotion effect Good, demand growth is stable. The company's production capacity of dicamba is 25,000 tons, and long-term growth is still expected.

For the long-term growth of the company, the Yujia Phase III project is expected to invest 2.02 billion yuan, and build 11475 tons of pesticides, 1000 tons of herbicides, 3,000 tons of fungicides, 2,500 tons of chloroacetophenone and 37,000 tons of related by-products. It is expected to contribute profits of RMB 360 million; 230 million investment in pesticide preparation projects and terminal and warehousing projects are expected to contribute a profit of RMB 91 million; 430 million investment in 3,800 tons/year bifenthrin, 1,000 tons/year fluazinam, 120 tons /Year-safety chrysanthemum, 200 tons / year of hydroxypipedate pesticides, is expected to contribute a profit of 99 million. After the new project is completed and put into production, it will effectively supplement the company's existing products and production capacity, and provide incremental growth for the company's performance.