After the acquisition of Luxi Chemical, Sinochem has made great moves

According to the agreement, Sinochem Group and Sinochem Group take Shandong Province as an important strategic area, and strengthen cooperation with Shandong in energy, high-end chemical industry, modern agriculture, urban operation, modern financial services, environmental protection and other fields by means of market cooperation that is conducive to the common development of the three parties. At the event, the signing ceremony of the master fund cooperation framework agreement for investment in new energy Sinochem environmental protection industry of Shandong Province was also held. It is understood that the investment field of Sinochem environmental protection industry master fund is the comprehensive treatment of industrial park environment, new energy and new material equipment for environmental protection, and application-oriented advanced environmental protection technology. As early as the evening of October 29, a notice on the change of the shareholding structure of the controlling shareholder of Luxi Chemical Co., Ltd. caused a heated discussion in the industry and sent Sinochem Group to "hot search".

The specific information is as follows: Sinochem Investment Development Co., Ltd. has completed the industrial and commercial registration for the acquisition of 39% equity of Luxi group, the controlling shareholder of the company jointly held by CDH Jiahe and CDH chemical. The state owned assets supervision and Administration Commission of Liaocheng Municipal People's government signed a strategic cooperation agreement with Sinochem investment after the equity change of Luxi Chemical. The state owned assets supervision and Administration Commission of Liaocheng agreed to carry out strategic restructuring of Luxi group, and promote Sinochem investment to become the largest shareholder of Luxi group by transferring part of its equity to Sinochem investment for free And acquire the controlling right. As a wholly-owned subsidiary of Sinochem Group, if Sinochem investment successfully becomes the largest shareholder of Luxi group and obtains the controlling right, Luxi Chemical will be incorporated into Sinochem Group at that time. As an important crude oil base and the first chemical industry province in China, Shandong is the fifth largest crude oil producing province, the first largest gasoline, diesel and chlor alkali producing province, the second largest soda ash producing province, and the production of plastic, chemical fiber and pesticide products are also among the top. Among the top 500 chemical enterprises in 2018, 104 enterprises in Shandong accounted for 21% of the country, far exceeding other provinces.

It is reported that Shandong has a good industrial scale advantage in the petroleum and chemical industry, but there are many problems such as resource-based and heavy-duty industries, low industrial level, less high-end advanced technology, lack of key talents, weak R & D capacity, poor quality and efficiency, and heavy pollution discharge. For this reason, Shandong has put forward a new and old energy conversion plan to replace the old one with the new one. In January 2018, the State Council officially approved the construction of Shandong new and old energy conversion comprehensive test area. This is the first regional national development strategy approved after the 19th National Congress of the Communist Party of China. It is also the first regional development strategy with the theme of transforming old and new driving forces. It is typical and representative. The new and old energy conversion projects in the petrochemical field focus on clean oil, natural gas, basic petrochemical raw materials (olefin aromatics and their derivatives), coal chemical industry, engineering plastics, high-end chemical fiber, special rubber, hydrogen energy, organic silicon and other fields. It is predicted that the upgrading of Shandong chemical industry will accelerate in the future. The strategic cooperation between the "two modernizations" and Shandong provincial government is of great significance to Shandong chemical industry. In the future, Shandong will become an important strategic area for Sinochem and CHEMCHINA.