Titanium Dioxide Leader Jinpu Titanium Industry Set Up a Subsidiary! Accelerate Into The Field Of Lithium Iron Phosphate Materials

On April 10, Jinpu titanium industry released an announcement, in order to focus on promoting the company in Anhui (Huaibei) new coal chemical synthesis materials base construction 200,000 tons / year battery-grade iron phosphate, 200,000 tons / year lithium iron phosphate and other new energy battery materials integration project on the ground implementation.

Meanwhile, the Company held the Twenty-eighth Meeting of the Seventh Session of the Board of Directors on 8 April 2022 and considered and passed the "Proposal on the Investment in the Establishment of a Wholly-Owned Subsidiary by a Subsidiary", agreeing that Nanjing Titanium White, a wholly-owned subsidiary, should invest in the establishment of a wholly-owned subsidiary, Anhui New Energy Technology Development Co. ("Anhui New Energy").

The proposed investment in the establishment of the company's name is Anhui New Energy Technology Development Co., Ltd (tentative name), the scope of business for iron phosphate, lithium iron phosphate, sulfuric acid, electronic chemicals, phosphoric acid, monoammonium phosphate and other chemical products and raw materials production and sales, ammonium sulfate, gypsum (products) and other by-products production and sales, new energy materials research and development, technical advice and technical services.

It is worth noting that the foreign investment is made by Nanjing Titanium White's own funds, and paid up in stages according to the project's capital requirements, and the equity structure is that Nanjing Titanium White, a wholly-owned subsidiary, holds 100% of Anhui New Energy.

The investment will not adversely affect the company's financial position and operating results, and there is no damage to the interests of the listed company, nor is there any damage to the legitimate interests of the shareholders of the company, especially the small and medium shareholders.

Jinpu Titanium Industry said that the investment in the establishment of a wholly-owned subsidiary to promote the construction of 200,000 tons/year of battery-grade iron phosphate, 200,000 tons/year of lithium iron phosphate and other new energy battery material integration projects in Anhui (Huabei) New Coal Chemical Synthetic Materials Base, which is of positive significance to the long-term and sound development of the company.

As we all know, Jinpu Titanium is one of the larger sulfate titanium dioxide producers in China and one of only four listed companies in the domestic titanium dioxide industry, mainly engaged in the production, research and development and sales of titanium dioxide.

Jing and Xuzhou are the two major titanium dioxide production bases of Jinpu Titanium.

The main products include rutile titanium dioxide and anatase titanium dioxide, with Nanjing Titanium White mainly producing rutile titanium dioxide and Xuzhou Titanium White taking into account the production of rutile titanium dioxide and anatase titanium dioxide.

The company has six subsidiaries, including Nanjing Titanium White Chemical Co Ltd, Xuzhou Titanium White Chemical Co Ltd, Nanjing Titanium White International Trade Co Ltd, Nanjing Jinpu Supply Chain Management Co Ltd, Nanjing Jinpu Commercial Factoring Co Ltd and Jinpu (USA) Development Co Ltd, with nearly 2,000 employees.

2021 annual report forecast shows that during the reporting period, net profit attributable to shareholders of the listed company will be RMB 87,578,200 - 125,111,700, an increase of 135% - 150% over the same period of the previous year, and net profit after deducting non-recurring gains and losses will be RMB 78,593,400 - 104,791,300, an increase of 130% - 140% over the The net profit after non-recurring gains and losses was RMB 78,593,400 - 104,791,300, an increase of 130% - 140% over the same period last year.

In this regard, Jinpu Titanium Industry said that during the reporting period, the company's main product titanium dioxide market is in the boom cycle, product sales prices have a large increase over the same period of the previous year, the company's management firmly grasp the industry cycle upward opportunities, according to the market situation, real-time adjustment of marketing strategies, while further strengthening internal management, strict control of bulk raw material costs, and effectively improve operational management capabilities, so that the existing production capacity to further release, production.

The company's production capacity was further released and production volume reached a record high, resulting in an increase in the volume and price of titanium dioxide, which led to growth in performance.