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Suli to spend Yuan10 million to set up a wholly-owned subsidiary in Ningxia, Chinaqrcode

Dec. 26, 2018

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Dec. 26, 2018

Suli to spend Yuan10 million to set up a wholly-owned subsidiary in Ningxia, China

Recently Chinese agrochemical company Jiangsu Suli Co., Ltd announced that it would be setting up a wholly-owned subsidiary in Ningxia so as to make complete the business deployment of the company, according to its mid-long term strategic plan. The subsidiary will have a registered capital of Yuan10 million using Suli’s own funds, and be 100% owned by Suli.
 
The scope of business of the subsidiary involves production and marketing of fire retardant, water treatment agent, mold-proof preservative, pesticide, fertilizer, new material and fine chemicals; sales of chemicals and raw material (exclusive of hazardous chemicals); chemical product-oriented technical development, technical service, technical consultancy, technical transfer; import and export, or agency import and export of a variety of commodities and technologies.
 
The announcement says that the purpose of setting up the subsidiary is to make complete the business deployment and to implement part of the mid-long term strategic plan of the company, which will enable it to further optimize its business by using the resources in west China for the purpose of cultivation of a new source of profitability. 
 
In July this year, Suli Co., Ltd announced that its subsidiary, Jiangyin Chemical would make an investment of Yuan10 million in setting up a wholly-owned subsidiary in Shanghai with its business scope covering agrotechnical consultancy, technical service, technical transfer and technical development.
 
The third quarter report of Suli Co., Ltd has revealed a business income in the first three quarters of Yuan1.203 billion which is 13.01% up year-on-year and profit of Yuan228 million which is 36.78% up year-on-year.
 
Source: AgroNews

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