News, 100% equity of Mingzhu Silicone Rubber has passed the auction

A few days ago, Hongda New Materials announced that in order to optimize the asset structure and further effectively integrate resources, the company announced in October 2019 The 17th meeting of the Fifth Session of the Board of Directors was held on the 21st, and the “Proposal on the Transfer of 100% Equity of Jiangsu Mingzhu Silicone Rubber Materials Co., Ltd., a wholly-owned subsidiary of Jiangsu Mingzhu Silicone Rubber The Fifth Extraordinary General Meeting of Shareholders in 2019 reviewed and approved. The company will hold 100% of Jiangsu Mingzhu Silicone Rubber Materials Co., Ltd. (“Jiangsu Mingzhu”) at a public auction at a price of approximately 375 million yuan as the auction reserve price.

Jiangsu Shicheng Auction Co., Ltd. is entrusted by the company and scheduled for 2019 At 10:00 on the morning of November 14, the target equity (including 100% equity of the three wholly-owned subsidiaries) was publicly auctioned on the 3rd floor of the office building, No. 1, Yihe Road, Yangzhong City, Jiangsu Province. Because no one has paid the auction deposit, the auction target has been unsold. Jiangsu Shicheng Auction Co., Ltd. proposes to adjust the reserve price and auction again.

To ensure the smooth progress of the target equity transfer, the The 17th meeting and the Fifth Extraordinary General Meeting of Shareholders in 2019 reviewed and approved the “Proposal on Requesting the General Meeting of Shareholders to Authorize the Board of Directors to Authorize Management to Deal with the Follow-up Matters of the Auction”, and agreed and authorized the Board of Directors to authorize the company’s management to fail to solicit in the first auction. In the event that the eligible intended transferee fails to complete the transaction, the target equity shall be auctioned at no less than 70% of the assessed value of the underlying equity assets.

After the company’s management deliberated and decided, combined with the actual situation of the company and the market, In order to promote the continuation of this public auction, the company will continue to entrust Jiangsu Shicheng Auction Co., Ltd. to hold the second auction on the transfer of the target equity as soon as possible. The reserve price of the second auction is 85% of the assessed value of the target equity asset, namely 318.5965 million yuan.

Jiangsu Mingzhu Silicone Rubber Material Co., Ltd. mainly produces high-temperature silicone rubber products. Founded in 1992, the company is one of the earliest companies involved in high-temperature silicone rubber products in China.

The company has established large-scale early The production plant can provide products and services conveniently. After years of stable development, a stable supplier management system has been formed, and a wealth of customer resources have been accumulated. The company has a greater influence in the industry. Have a strong competitive strength and first-mover advantage. The company has passed ISO9001 quality system certification and ISO14001 environmental system certification.

The company has been Foreign experts hire organotin experts to support technology development in the company, and conduct technical cooperation with well-known universities and research institutes at home and abroad to continuously research and develop high-tech products and put them on the market. The company is a national high-tech enterprise. It has the “Jiangsu Organic Tin Engineering Technology Research Center” approved by the Jiangsu Science and Technology Department and the “Jiangsu Organic Tin Engineering Technology Research Center” approved by the Ministry of Personnel. High-level R&D and innovation platforms such as “Enterprise Postdoctoral Scientific Research Workstation”;recognized as a “National International Cooperation Base” by the Ministry of Science and Technology. The company has a number of invention patents, such as a method for preparing organotin phosphate, a method for preparing a high-temperature The preparation method of coating silicone resin, a high refractive index silicone resin and its preparation method and other patented technologies. The company has more than 230 high-temperature silicone rubber varieties and brands, and can provide the market with a full range of high, medium and low-end products. In addition to the production of ordinary performance products, it also It can be used to produce special silicone rubber products that are flame-retardant, insulating, high temperature resistant, low temperature resistant, water vapor resistant, high tear resistance, high elasticity, low compression, and never deformed, which can meet the diverse needs of different customers.