Huide Tech Moves Fast with 580 Million Yuan Private Placement for 60 Million-Ton Polyurethane Project in Jiangsu

On July 4, Huide Technology unveiled a plan to raise up to 580 million yuan through a directed A-share offering, aiming to fund its ambitious Jiangsu Huide New Materials 600,000-ton-per-year polyurethane project. The net proceeds, after deducting issuance costs, will be fully allocated to the construction of this high-capacity facility.

According to the proposal, if the actual funds raised fall short of the planned amount, the board—under shareholder authorization—will adjust the investment allocation as needed. Any funding gap will be covered by the company’s own capital.

As of May 2025, the polyurethane plant was still in the approval process, with substantial construction yet to commence. By June, the local environmental bureau had accepted the environmental impact report for the 600,000-ton-per-year project. The current fundraising is targeted at the first phase: 305,000 tons per year, including production lines for 95,000 tons of polyester polyols, 5,000 tons of copolyesters, 5,000 tons of modified polyols, 160,000 tons of polyurethane resins, 20,000 tons of graft polyester polyols, and 20,000 tons of polyurethane adhesives.

The entire project, located in Taixing Economic Development Zone, Jiangsu, will cover 222 acres and require a total investment of 2 billion yuan. Construction will proceed in three phases, with the first phase spanning 22 months and adding 210 employees. Full build-out will create nearly 500 new jobs and a total annual capacity of 750,000 tons, with a significant portion of polyols being used in-house for further product development.

This rapid capital move demonstrates Huide’s aggressive strategy to strengthen its presence in the fast-growing advanced polyurethane materials market.