The Zhitong Finance App learned that Binhua shares (06745) were listed for the first time. The announcement showed that each share was priced at HK$3.48, and a total of 352 million shares were issued, with a total of 1,000 shares per lot, with a net proceeds of about HK$1.16 billion. As of press release, it decreased by 21.26% to HK$2.74, with a turnover of HK$505.621 million.
According to the prospectus, Binhua Co., Ltd. is a comprehensive domestic chemical group. Its business areas include the three core sectors of chlor-alkali chemicals, carbon three carbon four chemicals, and wet electronic chemicals. Among them, the company has maintained a leading position in the chlor-alkali chemicals industry. The company's core products include sintering, propylene oxide, MTBE, electronic grade hydrofluoric acid, etc. With an integrated industrial chain layout, Binhua Co., Ltd. can also independently produce some of the raw materials required for production and operation.
It is worth noting that Binhua Co., Ltd. recently announced earnings for the first half of the year. Net profit for the first half of the year is expected to be 344 million yuan, an increase of 208.25% over the previous year. In the first half of the year, the company's various installations maintained stable operation, and production of major products remained stable. At the same time, due to international political factors and geopolitical conflicts, global chemical raw material market prices rose, and the prosperity of some of the company's products rebounded. Prices of the main products, propylene, and propylene, increased significantly compared to the same period last year, and gross profit increased.