Hubei Yihua announced on the 29th that the company intends to transfer 100% equity of Jinjiang Chemical held by it and the transfer price will not be less than RMB 108 million. Jinjiang Chemical is a wholly-owned subsidiary of the company. It was established on July 10, 2007, with a registered capital of 100 million yuan. The company's main business is manufacturing and sales of pentaerythritol, with an annual production capacity of 30,000 tons of pentaerythritol. As of August 31, Jinjiang Chemical had a total asset of 319 million yuan, a total liability of 211 million yuan, and shareholders' equity of 108 million yuan.
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