Sinochem International announced on the evening of the 12th that it planned to sign the Equity Transfer Agreement with China Sinochem Co., Ltd. and Beijing Sinochem Jinqiao Trade Co., Ltd. to acquire 100% equity of Sinochem Plastic Co., Ltd. from Sinochem Co., Ltd. Sinochem Jiangsu Ltd. and Sinochem (Qingdao) Industrial Co., Ltd., acquired a 20% stake in Sinochem Qingdao, a subsidiary of Sinochem International Ltd. Sinochem International (Singapore) Co., Ltd., a subsidiary of Sinochem International, Hong Kong (Group) Co., Ltd. and Sinochem Asia Group Co., Ltd. signed the Equity Transfer Agreement to acquire 100% of the shares of Sinochem Hong Kong Chemical International Co., Ltd. held by Sinochem Hong Kong and acquire 100% of Sinochem Asia Co., Ltd. held by Sinochem Asia .
The transaction constitutes a connected transaction, the agreed amount of not more than 1.744 billion yuan of the acquisition of the subject company is expected to make the company's total assets increased by 2.4 billion yuan, improve the company's current net profit of 258 million yuan through the acquisition of Sinochem Plastics and other companies 100 % Stake in Sinochem International will be conducive to Sinotrans China to become rooted in China, a global leader in innovative fine chemicals, Sinochem International help create a 'new vehicle integrated services supply chain' sales platform.