Jinfa Technology Holdings Baolai New Materials, Extending to the Upstream of the Industry

On the evening of July 25th, Jinfa Technology announced that the company plans to sign an agreement with Liaoning Baolai Enterprise Group Co., Ltd. (hereinafter referred to as "Baolai Group"), Panjin Xinhai Construction Engineering Co., Ltd. (hereinafter referred to as "Panjin Xinhai"), and Liaoning Baolai New Materials Co., Ltd. (hereinafter referred to as "Baolai New Materials") on the transfer, subscription, and capital increase of Liaoning Baolai New Materials Co., Ltd. between Jinfa Technology Co., Ltd. and Liaoning Baolai Enterprise Group Co., Ltd. and Panjin Xinhai Construction Engineering Co., Ltd.

Bora New Materials was initiated and established by Bora Group on January 20, 2020. As of the signing of this agreement, the registered capital of Bora New Materials was 3.21 billion yuan, of which Bora Group subscribed 2.91 billion yuan in registered capital, with a subscription ratio of 90.6542%; Panjin Xinhai has subscribed a registered capital of 300 million yuan, with a subscription ratio of 9.3458%. Baolai Group and Panjin Xinhai jointly subscribed to 100% equity.

The original subscribed capital of Bora Group was 2.91 billion yuan, and the actual paid up capital is 1.5 billion yuan. Bora Group agrees to transfer the unpaid portion of its subscribed registered capital of 1.41 billion yuan (accounting for 43.9252% of Bora New Materials' registered capital) to Jinfa Technology. Jinfa Technology agrees to acquire the aforementioned subscribed capital rights and shall make contributions to Baolai New Materials in accordance with the agreement after the acquisition. Panjin Xinhai waives the right of first refusal.

At the same time, Jinfa Technology agrees to increase the capital of Baolai New Materials by 470 million yuan in accordance with the terms and conditions stipulated in this agreement, and Baolai Group and Panjin Xinhai waive their preemptive subscription rights for capital increase. After the capital increase, the registered capital of Baolai New Materials increased from 3.21 billion yuan to 3.68 billion yuan. The contribution and equity ratio of each shareholder of Baolai New Materials were 51.09% for Jinfa Technology, 40.76% for Baolai Group, and 8.15% for Panjin Xinhai.

Bora Group was established in 2005, with its main businesses including petroleum refining, fine chemicals, logistics and warehousing. In recent years, Bora Group has strengthened its cooperation with domestic and international * * * enterprises.

In December 2009, Bora Group officially cooperated with Bank of China Investment Co., Ltd.

In February 2020, Bora Group established a joint venture with Yingkou Asphalt, a subsidiary of CNOOC.

In August 2020, Bora Group and the world petrochemical giant LyondellBasell Industries jointly established Bora LyondellBasell Petrochemical Co., Ltd., investing in the construction of 1 million tons/year of ethylene steam cracking, 450000 tons/year of LLDPE, 350000 tons/year of HDPE, 400000 tons/year of PP1, 200000 tons/year of PP2, 360000 tons/year of styrene, 120000 tons/year of butadiene extraction and other production facilities, as well as supporting public works and auxiliary facilities.

Our agency; Zhonghe Huayuan Titanium Dioxide (R-213, R-215, R-216, R-219, R-2196, R-2196+), Longmang Bailian Titanium Dioxide (R-996, R-108, R-699, R-698, R-895 chlorination method, R-896 chlorination method, R-886 chlorination method), Teno Titanium Dioxide (imported), Lily Pigment (122 Red, 254 Red, F3RK, F5RK, A3B, etc.), Indian Phthalocyanine Blue (plastic 15:0, 15:1, 15:2, 15:3, 15:4), Indian Phthalocyanine Blue (ink) 15:1, 15:2, 15:3, 15:4), Indian phthalocyanine blue (water-based 15:0, 15:1, 15:2, 15:3), phthalocyanine green (water-based), phthalocyanine green (plastic grade), and phthalocyanine green (ink grade).