Summary:
In late Feb. 2024, Anhui Annada revealed the announcement concerning
the alteration of controlling shareholder; the company's daily output of
TiO2 hit new high in Feb.
On
27 Feb., 2024, Anhui Annada Titanium Industry Co., Ltd. (Anhui Annada)
announced that its controlling shareholder Tongling Chemical Industry
Group Co., Ltd. (Tonghua Group) planned to transfer 32.68 million shares
(accounting for 15.20% of the total shares) to Wanhua Chemical Group
Battery Technology Co., Ltd. (Wanhua Battery) at USD42.08 million
(RMB299.05 million). Afterwards, Anhui Annada's controlling shareholder
would become Wanhua Battery and the actual controller would become
Yantai State-Owned Assets Supervision Committee.
Wanhua
Battery, a wholly-owned subsidiary of Wanhua Chemical Group Co., Ltd.,
was founded in Nov. 2022 with registered capital of USD253.31 million
(RMB1.80 billion). The company mainly engages in investment, production,
development, and sales of Li-ion batteries used for new energy
vehicles.
Anhui
Annada said that this transaction would facilitate the smooth
development of the company and enhance its governance and anti-risk
abilities.
In
terms of production, on 1 March, Anhui Annada disclosed on the
company's official website that in Feb. 2024, the company overcame the
influence of the Spring Festival holiday and low temperature as it
pre-processed around 256.34 tonnes of titanium dioxide (TiO2) per day, edging up by 1.5% YoY and rising by 5% MoM, setting a new record.
In addition, in Feb., Anhui Annada's energy consumption of TiO2 production
continued to hit a new low after the historic low level in Jan.
Specifically, in Feb., the consumption of natural gas decreased by 0.6
m3/t over the previous month, down by 2.32% MoM; the consumption of
water in workshop declined by 1.77 m3/t compared with Jan., slipping by
1.69% MoM.
Source:CCM
More information can be found at CCM Titanium Dioxide China Monthly Report.
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