Shanghai Daoqin Plastics Co., Ltd.

Shenghong 1600 10,000 tons / year project increase 资50 100 million, industry 基金入股 add 持 12 month 5 day, 江苏东方 Shenghong corporation has company published about/regarding Shenghong 炼化(连云港) has company increase expand announcement. announcement 称, Shenghong full company Shenghong industry development has company in 连云港市, and 连云港 Shenghong industry combined enterprise (has combined 伙), Shenghong 炼化(连云港) has company 签订《 about/regarding Shenghong 炼化(连云港) has company investment agreement 》, industry as is shareholder toward Shenghong 炼化认缴 increase 资人民币252,000 10,000 yuan, industry 基金以 increase methods toward Shenghong investment 人民币248,000 10,000 yuan, front investment full 部计入 Shenghong 炼化注册资本.

本次 increase front, Shenghong 炼化 注册资本 is 800,000 10,000 yuan, industry has its 100%股权;本次 increase rear, Shenghong 炼化 注册资本 is 1,300,000 10,000 yuan, industry has its 80.92%股权, industry 基金持 has its 19.08%股权. 2019 year 12 month 5 day, Shenghong 以通讯 table/sheet methods 召开第七届 board of directors 第三十八次会议, 会议审议 through 《 about/regarding Shenghong 炼化(连云港) has company increase expand 股 议案》. announcement 称, Shenghong increase expand 股, is is add fast 推进“ Shenghong 1600 10,000 tons / year 炼化一体化 project ” construction, from more good 推进东方 Shenghong “原油炼化-PX/ ethylene glycol -PTA- polyester -化纤” new type high textile industry chain strategy 布局, combined company long development 规划, combined company and full shareholder 利益. increase 资不会 for company and 经营状况 generate effect/influence, in loss company and full shareholder 利益 情形.

截止2019 year 3 month 31 day, industry 未经审计 mono 体财务报 table/sheet assets 总额12.80 100 million yuan, negative 债总额2.8 100 million yuan, assets 10 100 million yuan, 2019 year 1-3 month 营业收入0 10,000 yuan, profit 1.26 10,000 yuan. Shenghong 称, for industry increase 资, main/primary is is through industry acquisition 江苏虹港石化 has company 股权, and for Shenghong 炼化(连云港) has company increase 资, add fast 实施“原油炼化-PX/ ethylene glycol -PTA- polyester -化纤” new type high textile industry chain long development and development strategy. in addition, Shenghong day announcement 称, company through industry for Shenghong 炼化(连云港) has company (below/following 简称“ Shenghong 炼化”)以货币 methods increase 资70 100 million yuan. increase formed rear, Shenghong 炼化 注册资本 will from 10 100 million yuan increase 至80 100 million yuan.

东方 Shenghong table/sheet 示, Shenghong is “ Shenghong 1600 10,000 tons / year 炼化一体化 project ” 实施主体, 于2018 year 12 month 14 day construction start construction, currently 尚处于 construction 初期. company through full company industry for Shenghong increase 资, is is add fast project construction, day formed 完整 “原油炼化-PX/ ethylene glycol -PTA- polyester -化纤” new type high textile industry chain long development and development strategy, combined company and full shareholder 利益. understanding, Shenghong group industry expand and 完善, Shenghong business upstream and downstream 不断延伸. in year 3 month 8 day, upper company full company Shenghong industry development has company 以现金 methods acquisition Shenghong 苏州, Shenghong combined has Shenghong 炼化100%股权. 2010 year Shenghong group 落户连云港, positive 式进军石化 sheet/plate block, Shenghong industry construction 拉开帷幕. Shenghong group is 进一步 development, solution PTA project and alcohol more project raw materials issues, formed Shenghong 炼化(连云港) has company, in 连云港石化 industry construction 1600 10,000 tons / year 炼化一体化 project. Shenghong is “ Shenghong 1600 10,000 tons / year 炼化一体化 project ” 实施主体, project by is 江苏省 heavy large project, already 于2018 year 12 month 14 day construction start construction, currently construction 初期, expected will 于2021 year formed start production. light large analysis 师裘孝锋认 is, in 我国, polyester and PTA already achieve 一体化 化纤 enterprise currently positive in toward industry chain upper 游布局 construction large 炼化芳烃 project, achieve full industry chain 一体化, Hengli 石化450 10,000 tons PX, 恒逸石化150 10,000 tons PX, 浙江石化 400 10,000 tons PX, Shenghong group 280 10,000 tons PX and other, 炼化一体化 is industry future main/primary development direction. PTA, project 逐步注入, Shenghong will 打通“炼化-PTA-涤纶 long filament ” industry chain, 逐步形 formed 一体化 landscape. 观察 看, Shenghong group project 顺利进行 make company industry chain more add 完善, Shenghong group future PTA, project 注入预期 relatively strong/high. combined 式完整 industry chain 打通, make company tool 备一定 议价 can force, has 助于锁定盈利区间, more tool 话语权. meanwhile, raw materials cost and procurement cost large reduce, improve/increase utilizing efficiency, make upper company can has 效 抵 resistant industry cycle 风险. understanding, Shenghong main/primary product is DTY, FDY and POY, although company use long filament sales mono 价 变动 trend and market price trend maintain 一致, due to company use long filament product 差别化 rate full industry 领先, therefore product mono high market price, in relatively high 价差. long filament price 回暖, 2018 year 9 month DTY product 价差逐步 expand large, company can force improves. Shenghong main/primary competition for is Hengli corporation, Xinfengming, Tongkun corporation, 恒逸石化, Rongsheng and other, long filament industry in large leading enterprise 各自定位 different, achieve 差别化 competition. its in Hengli corporation, Rongsheng 石化以FDY is 主, Xinfengming, Tongkun corporation 以POY is 主, 恒逸石化以DTY, FDY, POY balanced development, 而国望 high due to in technology 积累, 客户规模, 营销模式 and other advantages, 则定位于以 high product DTY is main/primary development direction, optimization product structure, 以此维持 high add value product ratio/proportion growth trend. from leading enterprise strategy upper 看, upper melt is polyester enterprise expand can and improves competition force fast speed 途径. front polyester leading melt 资渠道 already 打通, upper 游布局基础 already 夯实 背景 lower, 定价权 and other competition advantages will 牢牢掌握 in it in. 总 说, industry inner large leading enterprise 差异化 development has 利于避免 industry inner 同质化 competition, promote industry development. future market will obvious grade separation 化, in small polyester enterprise in 无资金补 to, price advantages lower 如不另辟 new 径, will 异常艰 difficult, most large small landscape will again 次出现. 10 month 15 day, Shenghong published 2019 year front degree 业绩预告: expected most high can 达约12.49 100 million yuan, ratio upper year increase 60%. announcement 显示, 业绩预告期间: 2019 year 1 month 1 day 至2019 year 9 month 30 day, belongs to upper company shareholder profit 约10.93 100 million yuan —12.49 100 million yuan, ratio upper year increase: 40%—60%. year 3 month 8 day 晚间, 江苏东方 Shenghong corporation has company published announcement 称, company full company Shenghong industry development has company and Shenghong (苏州) group has company, Shenghong group has company in 苏州市吴江区签订《股权 acquisition agreement 》, industry 以现金 methods acquisition Shenghong 苏州, Shenghong combined has Shenghong 炼化100%股权. through 此次交 easy, Shenghong will in has use long filament 主业 基础 upper, Shenghong 炼化一体化 project, will company industry chain from expand 展至炼油, full industry chain. Shenghong 炼化一体化 project can meet/satisfy PTA production for for 二甲苯(PX), ethylene glycol (MEG) demand production 汽柴油 and aviation and other product. project formed start production rear, upper company will formed “原油炼化-PX/ ethylene glycol -PTA- polyester -化纤” 完整 industry chain, from achieve industry chain upper 游 纵 toward combined, 进一步 improves upper company can force and core competition force. Shenghong 炼化(连云港) has company is “ Shenghong 1600 10,000 tons / year 炼化一体化 project ” 实施主体, Shenghong 炼化一体化 project by is 江苏省 heavy large project, already 于2018 year 12 month 14 day construction start construction, currently construction 初期, expected will 于2021 year formed start production.

Rongsheng 募资80 100 million 投入浙江石化 project 二期, 沙特阿美即 will 入股

12 month 9 day, Rongsheng published announcement, for 证监会就 company non development stock 一事 提出 issues 进行回复, its in 披露, 沙特阿拉伯国家石油 company will 入股浙江石化 newly built project, has has 浙江石化9% 股权. year 3 month 26 day, Rongsheng announcement, company non development stock, expected 募集资金总额不 ultra- 80 100 million yuan, 本次发行募集资金总额扣 remove 发行费 use rear will used for 浙江石油 chemical industry has company 4000 10,000 tons / year 炼化一体化 project project 二期, project investment 额1730.85 100 million yuan, its in investment 829.29 100 million yuan. announcement, project 实施主体 is 申请人持股51% 子 company 浙江石化, toward company increase methods 实施, other shareholder year-on-year 例进行 increase 资. according to can property research report 测算, 浙江石化4000 10,000 tons / year 炼化一体化 project formed rear year 均营业收入 is 1905.65 100 million yuan, profit is 181.59 100 million yuan, project 预期经济效益良 good.

for 此, 证监会 requirements Rongsheng 石化说明浙江石化 future 股权变化 is for project 实施构 formed heavy large effect/influence.

Rongsheng 石化披露, 截至12 month 9 day, 浙江石化注册资本 is 388 100 million yuan, 实际缴 nano 注册资本 is 288 100 million yuan, remove company outer, other shareholder mono is Tongkun investment has responsibility company (upper company “ Tongkun corporation ” full company, below/following 简称“ Tongkun investment ”), 浙江巨化 investment has company (浙江省国资委 lower enterprise, below/following 简称“巨化 investment ”) and 舟山海洋 comprehensive development investment has company (舟山市国资委 lower enterprise, below/following 简称“ 舟山海投”), 浙江石化 shareholder mono tool relatively strong/high 资金实 force. according to most new 约定, 浙江石化 or will 出现股权变 more. Rongsheng 石化披露, 沙特阿美 is most large supply 商, for/regarding 保障我国 can safety important function. 浙江省政府 and 沙特阿美签署 combined as memorandum, according to combined as memorandum, 沙特阿美 will 入股浙江石化 newly built project. 舟山市政府 and 沙特阿美签署 谅 understanding memorandum, toward 沙特阿美转 let 舟山海投 持浙江石化9% 股权. future 股权变化 for project 实施不构 formed heavy large effect/influence. Rongsheng understanding 释称, 本次舟山海投拟转 let 浙江石化9% 股权, 占浙江石化注册资本 ratio/proportion relatively low, 而浙江石化 other shareholder ratio/proportion will maintain 不变. therefore 本次股权转 let effect/influence 浙江石化 front large shareholder structure and Rongsheng for 浙江石化 控股权. currently, 浙江石化 shareholder 会决议 already for rear increase 资原则进行 约定: 浙江石化注册资本 already 认缴未实缴部 separation 出资由 full shareholder 按1元/注册资本 price 缴足; full shareholder according to ratio/proportion same price same conditions for 浙江石化进行 rear increase 资, solution project future demand. Rongsheng introduction, 沙特阿美 is world most large production company, 2019 year world 500 strong/high comprehensive 排名第六位, meanwhile 以1110 100 million USD profit 排名盈利榜首位, tool has very strong/high 资金实 force. future if its formed is 浙江石化 shareholder, will has 足够 资金实 force shareholder 出资义务, is 浙江石化 project provide 资金保障. in addition, 沙特阿美 also can from 原油供 to is 浙江石化 provide has force 支持. company 称, 沙特阿美 in 资金实 force and 原油供 to and other tool has very strong/high force, 引入该 investment will is project provide has force 支持. 浙江石化股权 structure maintain stability, future in 股权变化不会 for project 实施造 formed heavy large effect/influence.