Kingenta Ecological Engineering to Expand Chemical Production for 130 Million Yuan
Chinese fertilizer manufacturer Kingenta Ecological Engineering Group (SHE:002470) plans to expand its chemical production base for 129.9 million yuan, the company said in its disclosure on the Shenzh
Kingenta Ecological Engineering Group (002470.SZ) plans to invest 129.9 million yuan in its subsidiary's project to transform 300,000 tons/year of phosphogypsum flue gas into acid and 500,000 tons/year of sulfur into acid.
On June 7th, Gelunhui reported that Kingenta Ecological Engineering Group (002470.SZ) held the 6th board of directors meeting on June 7, 2024 and approved the "Proposal on the Transformation Project from 300,000 Tons/Year Phosphogypsum Flue Gas Acid Production to 500,000 Tons/Year Sulfuric Acid Production and Steam Production with a cumulative external investment" of its subsidiary. In order to solve the problem of sulfuric acid and steam shortage in its wholly-owned subsidiary Guizhou Zhenglun Phosphorus Chemical Co., Ltd. (referred to as "Zhenglun Phosphorus Chemical"), it is planned to transform the 300,000 tons/year phosphogypsum flue gas acid production into 500,000 tons/year sulfuric acid production and produce 800,000 tons/year of steam by-product. The project is expected to invest a total of 12,987.0 million yuan.
Kingenta Ecological Engineering Group (002470.SZ): There are no related circumstances of other risk warnings or delisting risk warnings being implemented.
Kingenta Ecological Engineering Group (002470.SZ) stated on the investor interaction platform on June 6th that, according to Chapter 9 of the Risk Warning in the Shenzhen Stock Exchange's Growth Enterprise Board Stock Listing Rules (Revised in 2024), up to now, the company has not been subject to any other risk warnings or delisting risk warnings, and the issues involved in the audit report's reservation opinion for 2023 has been resolved.
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