Hubei Yihua added 150 million yuan to Xinjiang subsidiary


Hubei Yihua Announced that in order to promote the implementation of the 400,000-ton synthetic ammonia and 600,000-ton urea project of the wholly-owned subsidiary Xinjiang Yihua Chemical Co., Ltd., the company raised 150 million yuan to increase capital in Xinjiang Yihua. After the capital increase was completed, the registered capital of Xinjiang Yihua increased from RMB 500 million to RMB 650 million.

It is reported that the capital increase projects include coal storage, synthesis gas compression, ammonia synthesis, urea synthesis and other supporting public works and auxiliary facilities. After the project is completed and put into production, the company will increase the production capacity of 600,000 tons of urea, while adding a small amount of sulfur and other by-products. Due to the abundance of resources in the project location and the low price, the product market is highly competitive. It is expected that the annual sales income will be 916 million yuan, and the profit after tax will be 243 million yuan.

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