CSRC Updates the Industry Classifications of Sinochem
OREANDA-NEWS. August 13, 2013. Recently, according to the industry classification results of listed companies released by China Securities Regulatory Commission (CSRC) in the second quarter of 2013, Sinochem International (Holdings) Co., Ltd. (Sinochem International for short, SH.600500), a listed company under the Sinochem Group, is classified as a company in chemical manufacturing industry instead of the former wholesale and retail industry, signifying that the strategic industrial transformation of Sinochem International has achieved initial success, and has been recognized by the supervision departments and capital market. As Sinochem International has further focused on its main business during recent years, andhas changed profoundly from a trade company to an industrialized group centering on research and development, manufacturing and processing.
This classification adjustment will help increase the valuation of Sinochem International on capital market, safeguard the shareholder value of the listed company, and vigorously promote non-public offering of the company’s stocks.
Now Sinochem International has 11 fine chemical research insititutes, 7 well-equipped fine chemical bases with annual fine chemical capacity of 1.8 million tons, pesticide of 173,000 tons, rubber and oil palm plantation of 80,000 hectares, land reserve covering 273,000 hectares, processing capacity of 630,000 tons, shipping capacity of 620,000 tons and controls over 6000 tank containers, holding the intellectual rights over 60 items, and hiring 15051 employees for research and development, production and planting.
In recent years, Sinochem International has acquired Nantong Jiangshan Agrochemical & Chemicals Co. Ltd., Jiangsu Yangnong Chemical Group Co., Ltd., Jiangsu Sinorgchem Technology Co., Ltd., and other excellent enterprises in fine chemical field successively. In natural rubber sector, the company has completed its expansion of natural rubber business in Africa and Asia rapidly. In the field of pesticide industry, the company has successfully introduced its distribution business to Australia and New Zealand. In the domain of chemical logistics, the company has acquired the stock equity of the US-based Newport Corporation, which is scheduled to be delivered in July.