According to the companys non-public offering plan, the raised funds are invested in the 30000 T / a special graphite manufacturing and processing project and the 100000 t / a oil based needle coke project. However, in the announcement on February 18, Fang Da carbon said that due to the significant changes in the market environment of the 100000 t / a oil based needle coke project, the company agreed to terminate the project after deliberation at the board of directors and the extraordinary general meeting of shareholders held in 2016.
In February, Fangda carbon changed part of its investment projects with raised funds, and plans to change the 100000 t / a oil based needle coke project into the purchase of 51% equity of Jiangsu xikemo and subsequent capital increase project, the remaining raised capital was RMB 198735800 and the raised capital investment amount of 30000 T / a special graphite manufacturing and processing project was reduced by 146.2642 million yuan, which was used for the acquisition of Coopersuff08 Jiangsu) carbon Chemical Co., Ltd. changed the investment direction of raised funds to 50 million U.S. dollars, equivalent to 345 million yuan.
In this acquisition, Fangda carbon plans to invest US $50 million, with a shareholding ratio of 46.73%; Coal Chemical Co., Ltd. (hereinafter referred to as Coal Chemistry) will contribute 57 million US dollars, with a shareholding ratio of 53.27%; after the acquisition, Fangda carbon will actually control the target company, be fully responsible for the production and operation management of the target company, and enjoy 80% voting rights and profit distribution rights of the target company.
Coopers (Jiangsu) carbon Chemical Co., Ltd. is jointly funded by Koppers international B.V. company (hereinafter referred to as kibv) and Yizhou Group Co., Ltd. (hereinafter referred to as Yizhou group), of which kibv contributed 75% and Yizhou group contributed 25%. The planned land area of Coopers is 168 mu, which was completed and put into operation in April 2014, with an annual tar treatment capacity of 300000 tons.
According to the audit report issued by Tianzhi International Certified Public Accountants (special general partnership) on February 5, 2020, as of November 30, 2019, the total business income of Coopers was RMB 925.9803 million, the net profit was RMB 42.048 million, the total assets was RMB 476.7019 million, the net assets was RMB 195.8277 million, and the return on net assets was 21.45%.
In May this year, Fangda carbons acquisition of Coopers equity was examined and approved by the State Administration of market supervision and administration. On September 11, it completed the registration of Coopers industrial and commercial enterprise type and shareholder change, and received a new business license.
Fangda carbon headquarters is located in Haishiwan Town, Honggu District, Lanzhou City, Gansu Province. The companys comprehensive production capacity of carbon products has reached 230000 tons and raw material production capacity has reached 204000 tons, including 190000 tons of graphite electrode, 30000 tons of carbon brick, 10000 tons of new carbon materials, 60000 tons of coal based needle coke and 144000 tons of low sulfur calcined petroleum coke.