December 16, 2024 – Wansheng Corporation (603010.SH) has recently announced updates and adjustments to its fund-raising projects. The company reveals that the construction of production lines for various projects, including “10,000 tonnes of Triethyl Phosphate,” “25,000 tonnes of Tris(2-chloropropyl) Phosphate,” “10,000 tonnes of Tris(1,3-dichloro-2-propyl) Phosphate,” “70,000 tonnes of Phosphorus Oxychloride,” “2,930 tonnes of High-end Epoxy Resin and Additives,” and “34,340 tonnes of Surfactants,” is nearly completed. Currently, the equipment is undergoing rigorous testing phases but has not yet been formally commissioned. Consequently, the company has decided to extend the expected operational status of these subprojects to December 31, 2025.
In the face of economic uncertainties and practical challenges during the project development, Wansheng Corporation has demonstrated its ability to adapt flexibly. According to industry sources, in order to optimize resource allocation, enhance operational efficiency, and safeguard the interests of all shareholders, the company, after thorough research and careful consideration, has decided to terminate two projects: “25,000 tonnes of Engineering Plastic Flame Retardant (BDP)” and “25,000 tonnes of Polyurethane Flame Retardant (TCPP),” along with some ancillary environmental protection facilities (including Environmental Protection Workshops 1 and 2) within the fund-raising project. The assets formed from these projects will be utilized in subsequent production operations, and the company will opportunistically allocate its own funds for new investments based on market changes and business development needs in the future.
Furthermore, due to the adjustment and termination of some fund-raising projects, certain sites have become idle. To improve the utilization efficiency of these sites, Wansheng Corporation plans to allocate them to other ongoing production projects, further maximizing the value of its assets. This series of adjustments not only reflects the company’s efficient use of resources but also demonstrates its ability to flexibly adjust strategies in response to market changes.