On 18th February, 2020, the Hailir Group
announced that the corporate registration of its subsidiary in the Philippines was completed with the issuance of corporate registration approval documents by local authorities. The details are:
1. Company Name: Hailir Philippines Agroservice Inc.
2. Register No.: CS20200000157
3. Type of Corporation: Limited company
4. Registered Address: Units A&B 20/F Rufino Pacific Tower, 6784 Ayala Ave. Cor.V.A. Rufino St., San Lorenzo
5. Registered Capital: 11.00 million pesos ($200,000, not necessarily to be paid in)
6. Date of Establishment: February 7, 2020.
7. Scope of Business: Import, export and wholesale of pesticide and fertilizer.
The establishment of Hailir Philippines Agroservice Inc. is an important step towards Hailir’s intensified international development strategy. At present, the company has obtained cooperative registrations and independent registrations for over 800 products across 50 countries, including Australia and New Zealand. So far, more cooperative registrations are being processed in some 60 countries, including Colombia, Dominica and Kenya while independent registrations are being processed in Brazil and the EU. In July, Hailir announced a plan to invest some Yuan2 million to establish a subsidiary in Brazil, which is the world's largest agrochemical market. The establishment of subsidiaries in South America and Southeast Asia is a positive response to China’s Road and Belt Initiative, and will further strengthen Hailir’s overseas business growth and brand promotion, backed by its successful registrations that will benefit its long-term competitiveness and profitability.
Some of the company’s projects are currently progressing. In the first half of the year, Hailir completed the construction of a production facility for the second-generation neonicotinoid insecticides, thiamethoxam and clothianidin. The construction of a production facility for the fungicide, prothioconazole technical, and the third-generation neonicotinoid insecticide, dinotefuran technical, is progressing rapidly and is expected to be completed this year.
In July, Hailir invested Yuan2 billion (Yuan1.4 billion in fixed assets) in its Pingdu production base that produces the environmentally-friendly formulations, emamectin benzoate and difenoconazole technical. Upon its completion and full operation, the production base will produce 100,000 tons of pesticide formulations and 100,000 tons of pesticide technical and intermediates, amounting to an annual production value of Yuan5 billion, with expected profits of Yuan560 million. The project is expected to begin production by 30th December, 2021.
In October, Hailir announced that its subsidiary, Qingdao Audis, will invest Yuan276 million in the construction of a 7,000-ton waterborne formulation unit, a 9,000-ton waterborne solid formulation unit, and another 26,000-ton waterborne formulation unit, which are expected to start production in 2021.