Qingdao Alkali Industry (600229) today disclosed plans for non-public offering of shares, and raised investment projects for investment projects with an annual output of 225,000 tons of butyl octanol. The controlling shareholder of the company, Gulf Group, has committed to subscribe for non-public offerings of at least 200 million yuan in cash. The number of subscribed shares is no less than 20 million shares and no more than 60 million shares.
The plan shows that Qingdao Sodaye is planning to issue no more than 260 million shares of common stock at a price of no less than 5.69 yuan/share, and the total amount of funds raised will not exceed 1.5 billion yuan, and the funds raised will be used for the construction company's annual output of 225,000. Tons of octanol project. Qingdao Alkali Industry stated that butyl octanol products have a broad market prospect. Butyl octanol is the third largest derivative of propylene derivatives after polypropylene and acrylonitrile. It is also an important basic organic chemical raw material and is widely used in the production of various plastics and rubber products.
It is understood that China is the world's largest importer of octanol, with an import dependency of around 50% in 2010. At present, the production capacity of butanol and octanol in China is 665,000 tons and 831,000 tons, respectively, while the apparent consumption is respectively 1.15 million tons and 1.036 million tons, which requires a large amount of imported supplementary supplies.
Qingdao Alkali Industry Co., Ltd. stated that the consumption of butanol and octanol in China will increase at an annual rate of 10% and 8% respectively in the next five years. The strong demand for butyl acrylate and plasticizer will boost the consumption of octanol. The main driving force for growth.
Qingdao Alkali Industry stated that after the project is completed and put into operation, it can achieve an annual average operating income of 2.797 billion yuan, an average annual profit of 511 million yuan, and an average annual after-tax profit of 383 million yuan. The pre-tax project investment recovery period is 6.56 years, after-tax is 7.35 years, and the investment profit rate is 20.23%. However, Qingdao Alkali Industry also stated that the land required for the project is currently under negotiation. The project approval and environmental protection approval procedures are also in the process.
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