web3gamingplatform| Chlor-alkali Chemical (600618.SH): Plans to acquire 40% equity of Guangxi chlor-alkali

Gelonghui May 23 丨 Chlor-alkali Chemical Industry (600618)(600618web3gamingplatform.SH) Announcementweb3gamingplatformIn 2019, the company's subsidiary Guangxi Chlor-Alkali invested in the construction of a 300,000-ton/year caustic soda and 400,000-ton/year polyvinyl chloride project in Qinzhou, Guangxi (referred to as the "Guangxi Qinzhou Project"). During the construction of the project, due to the company's limited funds, the company's controlling shareholder Shanghai Huayi and the company jointly funded the construction. In November 2022, the Qinzhou project in Guangxi was completed and put into operation. In order to increase the income of listed companies and improve the return of shareholders of listed companies, the company plans to acquire 40% equity in Guangxi chlor-alkali in cash to achieve 100% shareholding in Guangxi chlor-alkali.

The company and Shanghai Huayi plan to sign a share transfer agreement in the near future. The company will use its own funds of RMB 685.082 million to acquire 40% equity in Guangxi chlor-alkali held by Shanghai Huayi. This transaction is based on the evaluation benchmark date of December 31, 2023. The evaluation value of 100% equity in Guangxi chlor-alkali is RMB 1,712.705 million (ultimately the evaluation value confirmed by the state-owned assets authority authority shall prevail). After the above share purchase is completed, the company will hold 100% equity in Guangxi chlor-alkali, and Guangxi chlor-alkali will become a wholly-owned subsidiary of the company. As of now, Shanghai Huayi's total investment in Guangxi chlor-alkali has reached 621.0778 million yuan. There is still 633.228 million yuan in the acquisition of 40% equity of Guangxi chlor-alkali held by Shanghai Huayi. After this equity acquisition, the company will fulfill its payment obligations.