In order to enhance the company’s overall competitiveness and achieve sustainable development, Sanju Environmental Protection plans to invest in and build a “chemical and fertilizer catalyst and its supporting production facilities transformation†project by a wholly-owned subsidiary Shenyang Sankyite Catalyst Co., Ltd., with a total investment of 85.13 million yuan. Among them, the investment in fixed assets was 65,113,600 yuan and the liquidity was 20 million yuan. The funds needed for the project were solved by Sanken Kate through self-raised funds.
The project is located in the chemical park of Shenyang Economic and Technological Development Zone. After the project is completed, it will produce 1,800 tons of catalysts and scavenger products annually. The estimated annual sales income will be 90 million yuan, and the net profit after tax will be 10.5 million yuan. The static investment recovery period after tax is 5 years.
Sanju Environmental Protection also disclosed that at the third meeting of the second board of directors held in January 2011, the company agreed that the wholly-owned subsidiary Shenyang Sankyite Catalyst Co., Ltd. will use the company's 50 million yuan idle fund to temporarily replenish working capital. On July 12th, Sanju Kaite returned all of its 50 million yuan to its special fund-raising account opened, and at the same time notified the sponsor institution and the sponsor representative of the repatriation of the above raised funds.
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