Big move by SASAC! Integrated chemical leader (Luci Chemical) under Sinochem

Release time：

2021-09-08

On 3 September 2021, the State-owned Assets Supervision and Administration Commission of the State Council transferred all the equity interests in China Sinochem Group Company Limited ("Sinochem Group") and China National Chemical Corporation Limited ("Sinochem Group") to China Sinochem Holdings (hereinafter referred to as "Sinochem"), resulting in the indirect acquisition by Sinochem of 48.93% of the shares of Lucy Chemical Group Company Limited held by the holding company of Sinochem Group.

Prior to the acquisition, Sinochem did not hold any shares of the Company; Sinochem Group held 931,706,697 shares of the Company (48.93% of the total share capital of the Company) through its subsidiary holding company, Luxi Group Company Limited and Sinochem Investment. The controlling shareholder of the company is Sinochem Investment and the actual controller is SASAC of the State Council.

It is understood that in the evening of August 30, Sinochem International, Fengshen shares and other related listed companies have also issued announcements, announcing that they have received the news that Sinochem has started joint restructuring-related procedures, which marks the "two chemical" restructuring is accelerating!

As for the acquisition of Lucy Chemical, there was a rumour before. LUXI CHEMICAL is one of the leading comprehensive chemical enterprises in China, covering five major series of chemicals: coal chemical, salt chemical, fluorine chemical, silicon chemical, new chemical materials, etc. Its products include polycarbonate, caprolactam, nylon 6, hydrogen peroxide, polyol, high-end new refrigerants, organic silicon, methane chloride, caustic soda, benzyl chloride, methanol, etc. More than a hundred products with a wide range of applications. At present, it has gradually formed an industrial chain of fluorosilicon chemical, coal chemical, salt chemical and new chemical materials, etc. In recent years, it has focused on developing new chemical materials and high-end chemical industry around the chemical industry. (Content reprinted from: China Plastics Online)

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