Everbright Invests in Haohua Chemical
Business Related 08 Aug 2012
On 8 August 2012, a ceremony was held in Beijing to mark for an agreement for strategic cooperation between China National Chemical Corporation and China Everbright Group and the inauguration of the China Haohua Chemical Group Company Limited (“Haohua Chemical”). Luo Zhefu, general manager of China Everbright Group and Ren Jianxi, general manager of China National Chemical Corporation (“ChemChina”) opened the ceremony.
Haohua Chemical is a joint venture between ChemChina and Everbright Financial Holding Chemical Investment Company Limited involving an investment of RMB300 million by Everbright’s Capital Investment and Financing Department. Haohua Chemical has 19 subsidiaries and total assets of RMB20 billion. Its principal businesses are fluorine chemicals, chlor-alkali chemicals and fine chemicals. After restructuring, ChemChina will place more focus on these principal businesses to promote technological innovation and upgrade products. The company will optimise capital utilisation and build the foundations for listing, with the aim of establishing a top international chemical enterprise that will continuously create economic and social value, lead the industry in safety and sustainable development, and embrace new science and the future.
Everbright’s Capital Investment and Financing Department predominantly invests in private equity and pre-IPO financing and provides listed companies and their major shareholders with structured financial products that meet their financial needs for domestic and foreign operations. The primary focus is mainland Chinese companies with significant growth potential in the renewable energy, consumption, medical and healthcare, cultural and services, environment and energy saving, resources, and new agriculture sectors. Previous investments include companies listed on the New York Stock Exchange and the Main Board of the Hong Kong Stock Exchange, as well as mid-to-large cap enterprises with enormous growth potential. Leveraging the reputation of China Everbright Group and Everbright on the
mainland and the team’s extensive connections in the investment banking industry has made the sector one of the top business growth engines for Everbright.
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