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01702 DONGGUANG CHEM
RTNominal unchange2.000 0.000 (0.000%)
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13/09/2021 12:03

Dongguang Chemical (01702) to sell Xinjiang Xinji

[ET Net News Agency, 13 September 2021] Dongguang Chemical Limited (01702) said its
subsidiary Dongguang Chemical has agreed to sell 51% of the entire equity interests in
Xinjiang Xinji at a consideration of RMB90 million. Upon completion, Dongguang Chemical
would cease to hold any equity interest in Xinjiang Xinji.
Due to unavoidable delay of the construction of the new chemical production facilities
mainly because of the uncertainty in obtaining project financing and the change in
investors combination in Xinjiang Xinji, for risk management purposes and to improve
efficiency of applying investment capital of the group, the board resolved to proceed with
the disposal so as to reallocate the resources to other future development and investment
opportunities. (RC)

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