On the evening of August 12, Shandong Haihua issued an announcement stating that the company’s actual controller, Zhonghai Refining & Chemical, and Weifang State-owned Assets Supervision and Administration Commission and China Salt Group signed an equity transfer agreement. The agreement stipulates that China Overseas Refining & Chemical will transfer all its 74.5286% equity in Haihua Group free of charge, of which 44.5286% will be transferred to Weifang SASAC for free, and 30% will be transferred to China Salt Group for free.
After the completion of the equity transfer, Zhonghai Refinery will no longer hold the equity of Haihua Group, and the actual controller of the company will be changed to Weifang State-owned Assets Supervision and Administration Commission. The controlling shareholder of the company remains unchanged and remains Haihua Group.
On September 4, 2008, Shandong Haihua issued an announcement stating that the actual controller of the company will change. The State-owned Assets Supervision and Administration Commission of Weifang City and China National Offshore Oil Refining & Chemical Co., Ltd. signed the "Agreement on the Equity Transfer of Shandong Haihua Group Co., Ltd." . According to the agreement, the Weifang State-owned Assets Supervision and Administration Commission will transfer its 51% stake in Shandong Haihua Group Co., Ltd. to CNOOC Refinery Co., Ltd. for free.
At that time, Haihua Group, which held 40.34% of Shandong Haihua's shares, was the controlling shareholder of Shandong Haihua. The signing of the agreement meant that CNOOC became the new owner of Shandong Haihua.
Haihua Group hopes to use CNOOC’s crude oil resources and international capital operation platform to extend the marine chemical industry chain, expand the scale of the petrochemical industry, and build an important national heavy chemical industry base in the development of the "Three Norths" in Weifang.
Haihua Group was established in August 1995 by two large state-owned enterprises, the former Weifang Soda Soda Plant and Shandong Yangkou Saltworks. Its output of three types of products including synthetic soda ash, nitrate and solid calcium chloride ranks first in the world. .
As a chemical group in the forefront of China’s top 500 chemical companies, Shandong Haihua is strong; in 2007, Shandong Haihua Group ranked among the top 500 Chinese chemical companies with a total asset of 16.25 billion yuan and an annual operating income of 18.67 billion yuan. Top of the list. In July 2008, Shandong Haihua Group once again ranked first among the top 500 Chinese chemical companies in 2008.
At present, Shandong Haihua Group has formed three major industries, including the salt chemical industry represented by soda ash, potassium sulfate and bromine, the coal chemical industry represented by coke, urea, and melamine, and diesel, wax oil, and petroleum coke. It is represented by the petrochemical industry and auxiliary industries such as floor tiles. Shandong Haihua is the only listed company under Shandong Haihua Group that uses soda ash and PVC as its main products, with a shareholding ratio of 40.34%.
It is worth mentioning that this transfer agreement not only allows Haihua Group to return to the control of Weifang SASAC, but also introduces another strategic investor, China Salt Group.
China Salt Group was founded in 1950 and is now a large state-owned enterprise supervised by the State-owned Assets Supervision and Administration Commission of the State Council. According to the official website, China National Salt Group is the leading enterprise, the only central enterprise and the only national enterprise in my country's salt industry, the second in the world, the largest salt enterprise in Asia, and an important domestic chemical enterprise.
Like Shandong Haihua, in addition to the core business of salt, China National Salt Group also extends to the downstream industrial chain of salt chemical industry. It has initially formed a series of industrial layouts such as inorganic chemical industry, agricultural chemical industry, fine chemical industry, and daily chemical industry. Some products have entered the world and The forefront of the country.
In recent years, Shandong Haihua is actively adjusting its industrial structure, optimizing resource allocation, basing its own advantages, and highlighting the development of its main salinization business. It is worth looking forward to in the future whether it can form strategic synergy with the salinization business of China National Salt Group
