Fengshan Group (603810.SH) announced that, according to previous announcements, the company and Sichuan Guang'an Economy in July 2020...
Zhitong Finance App News, Fengshan Group (603810.SH) announced that according to previous announcements, the company signed the “Fengshan Pesticide and Fine Chemical Product Project Investment Agreement” with the Sichuan Guang'an Economic and Technological Development Zone Management Committee (“Guang'an Management Committee”) in July 2020 to purchase land use rights and invest in pesticide and fine chemical projects in Xinqiao Park in Guang'an Economic and Technological Development Zone, Sichuan. On September 22, 2020, the company held the 17th meeting of the 2nd board of directors and the 14th meeting of the 2nd board of supervisors to review and pass the “Proposal on the Company's Investment in the Construction of Fine Chemical Products and Pesticide Intermediates Production Bases”.
After signing the relevant investment cooperation agreement on July 18, 2020, in view of the impact of the “Sichuan Jialing River Basin Ecological Environment Protection Regulations” on project investment, in order to promptly advance the company's investment project construction, the company changed the implementation site of the fund-raising project from Guang'an, Sichuan to the Hubei Yichang project. The implementing entity was also changed from a wholly-owned subsidiary, Sichuan Fengshan Biotechnology Co., Ltd. (“Fengshan Biotech”) to a wholly-owned subsidiary, Hubei Fengshan New Materials Technology Co., Ltd. Recently, the company agreed with the Guang'an Management Committee to cancel the “Fengshan Pesticide and Fine Chemical Products Project Investment Agreement” and related supplementary agreements signed on July 18, 2020 and sign the “Project Investment Cancellation Agreement”.