The hottest Huaxing Chemical will raise another 2.

2022-08-24
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Huaxing Chemical will raise another 2.2 billion yuan to develop new business

after welcoming Huaxin petroleum into the ownership through private placement on May 20 this year, Huaxing Chemical has been interpreted by the outside world as entering the petroleum industry. However, only in the past five months, the company announced on December 2 that it planned to raise 2.2 billion yuan to carry out natural gas business. In this regard, there is a view that Huaxing Chemical will abandon its oil business

however, a person familiar with the matter said that Huaxing Chemical will not only engage in natural gas business or oil business, and the company will develop both in the future

the main business fell and transformed into natural gas

the announcement showed that Huaxing Chemical's non-public offering of no more than 360million adjustable shares in the tensile experimental space, the issue price was 6.11 yuan, and the total amount of funds raised was no more than 2.2 billion yuan. The net amount of funds raised will fully supplement the company's working capital for the preparation of the natural gas business

affected by the high operating rate of domestic medium frequency furnace steel plants, the company is cautious about entering the natural gas business. Huaxing Chemical said in the announcement that the preparation for the natural gas business is still in the initial stage of planning. If the company cannot meet the relevant requirements in time, and fails to successfully obtain stable upstream gas sources and integrate downstream storage, transportation, distribution and other resources, it will be difficult to make breakthroughs in this new business area. There are great uncertainties and operational risks in the company's new natural gas business

although the company said that it was only in the preparatory stage, a person familiar with the matter told that according to the statistics of the lithium industry branch, the company prepared the funds to develop the natural gas business, and the related work is in preparation. In the future, the natural gas business will become a new growth point of the company's profits, and it is only a matter of time for the company to enter the natural gas business

it is noted that at present, Huaxing Chemical mainly produces pesticides and chemical products, including pesticides, herbicides and fungicides. Due to the sluggish pesticide chemical market in recent years, the performance of the company is flat

financial data show that Huaxing Chemical achieved a revenue of 2.656 billion yuan in the first three quarters of this year, an increase of 272.29% year-on-year; However, the net profit is only 30.34 million yuan, and the annual net profit is expected to be only 35.81 million yuan to 58.19 million yuan, a year-on-year decrease of about 68% to 48%

at present, the state monitors the environmental protection industry more and more strictly, and monitors the pollution emissions generated in the production of pesticides more and more, which has a great impact on the company's main business. A person in the securities industry said so. Huaxing Chemical also admitted that at present, the overall recovery of the pesticide industry is slow, and it is difficult for the pesticide industry to be as close to 25mm as possible for a foreseeable period of time × 25mm appears and maintains a rapid development momentum

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