Shanghai Huayi Group Corp. Ltd. got listed in Shanghai Stock Exchange on May 18.
The significant asset reshuffle plan of Shanghai Huayi Group was granted on July 23, 2015, by China Securities Regulatory Commission and the group's main businesses changed significantly.
The group has involved the energy and chemical industry, green tire, fine chemical, advanced materials, and chemical services in a unified management platform through the reshuffle.
The group believes that such an arrangement will boost further integration and expansion of its integrated chemical industrial chain, enhance the overseas competitiveness of Shanghai's chemical industry, and reinforce the group's anti-risk capacity.
In 2015, the business revenue and net profit of Huayi Group reached 40.7 billion yuan and 704 million yuan, respectively.
On the basis of its research on industry trends, law of development, new technologies and domains, as well as national strategy, the group participated drafting China's national development plan for the 13th five-year from 2016 to 2020.
The reshuffle of Huayi Group was one of the 10 significant merger and reshuffle projects in China's A-share market last year.
Shanghai Huayi (Group) Corp. injected good assets in seven of its subsidiary in listed Double Coin Co., Ltd.
The move helped Huayi Group lists its core assets in the stock market and raises 3.7 billion yuan, effectively supported the construction of the acrylic acid and acrylate project of Shanghai Huayi New Materials Co., Ltd. and other key projects.
Approved by the board, Double Coin Holdings Co., Ltd. changed its name to Shanghai Huayi Group Corp. Ltd.
Huayi Group will further promote its strategic cooperation with the partners, give play to each other's complementary advantages and pursue win-win cooperation.
