Ruihua Technology raises investment in 100,000 tons of degradable plastics project
Source: Degradable Recycling Center 
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February 20, 2024, 10:33 AM
On February 5, 2024, according to the announcement of the Listing Committee of the Beijing Stock Exchange, the listing application of Changzhou Ruihua Chemical Engineering Technology Co., Ltd.(hereinafter referred to as "Ruihua Technology") was reviewed and approved.
The specific listing criteria selected by the issuer: the expected market value is not less than 200 million yuan, the net profit in the past two years is not less than 15 million yuan and the weighted average return on equity is not less than 8%, or the net profit in the most recent year is not less than 25 million yuan and the weighted average return on equity is not less than 8%.
Ruihua Technology was established in 2007 and is committed to providing chemical companies with complete sets of comprehensive technical solutions based on chemical process packages. The main products are chemical process packages, chemical equipment and catalysts.
The company's core business covers basic research testing, process routes and catalyst development, technology licensing, technical services, chemical equipment design and manufacturing, and new material technology development and preparation. It is a leading petrochemical technology provider in China. The main customers include many large state-owned and private petrochemical companies such as PetroChina, CITIC Guoan, Zhejiang Petrochemical, Zhenhua Petrochemical, Fujian Haiquan, Fuzhou Wanjing, Luoyang Refining and Chemical, Anhui Jiaxi, Dongming Petrochemical and Shengteng Technology. As of June 30, 2023, Ruihua Technology has 52 patents, including 29 invention patents and 23 utility model patents.
During the reporting period, Ruihua Technology achieved rapid performance growth. In 2022, it achieved operating income of 326 million yuan, a year-on-year increase of 130%, and achieved net profit of 78.61 million yuan, a year-on-year increase of 115%; in the first three quarters of 2023, it achieved operating income of 207 million yuan, a year-on-year increase of 7.79%, and a net profit of 77.29 million yuan, a year-on-year increase of 60%.
For this public offering, Ruihua Technology plans to raise 417 million yuan for the 12000 tons/year catalyst project; and the 100,000 tons/year degradable plastics project. After the project is completed, it will produce an annual output of 50,000 tons of PBS and an annual output of 25,000 tons of PBAT and 25,000 tons of PBT resin. Source: Degradable Recycling Center
The specific listing criteria selected by the issuer: the expected market value is not less than 200 million yuan, the net profit in the past two years is not less than 15 million yuan and the weighted average return on equity is not less than 8%, or the net profit in the most recent year is not less than 25 million yuan and the weighted average return on equity is not less than 8%.
Ruihua Technology was established in 2007 and is committed to providing chemical companies with complete sets of comprehensive technical solutions based on chemical process packages. The main products are chemical process packages, chemical equipment and catalysts.
The company's core business covers basic research testing, process routes and catalyst development, technology licensing, technical services, chemical equipment design and manufacturing, and new material technology development and preparation. It is a leading petrochemical technology provider in China. The main customers include many large state-owned and private petrochemical companies such as PetroChina, CITIC Guoan, Zhejiang Petrochemical, Zhenhua Petrochemical, Fujian Haiquan, Fuzhou Wanjing, Luoyang Refining and Chemical, Anhui Jiaxi, Dongming Petrochemical and Shengteng Technology. As of June 30, 2023, Ruihua Technology has 52 patents, including 29 invention patents and 23 utility model patents.
During the reporting period, Ruihua Technology achieved rapid performance growth. In 2022, it achieved operating income of 326 million yuan, a year-on-year increase of 130%, and achieved net profit of 78.61 million yuan, a year-on-year increase of 115%; in the first three quarters of 2023, it achieved operating income of 207 million yuan, a year-on-year increase of 7.79%, and a net profit of 77.29 million yuan, a year-on-year increase of 60%.
For this public offering, Ruihua Technology plans to raise 417 million yuan for the 12000 tons/year catalyst project; and the 100,000 tons/year degradable plastics project. After the project is completed, it will produce an annual output of 50,000 tons of PBS and an annual output of 25,000 tons of PBAT and 25,000 tons of PBT resin. Source: Degradable Recycling Center