Shanghai Baolijia Chemical (301037.SZ) plans to publicly list and sell 100% of the equity of Yantai New Materials to focus on its main business.

Shanghai Baolijia Chemical (301037.SZ) announced that the company plans to transfer 100% equity of its wholly-owned subsidiary Yantai Shanghai Baolijia Chemical New Materials Co., Ltd. ("Yantai New Materials") through public listing on the Shanghai United Property Exchange. Since its establishment in 2001, the company's main business is the research, production, and sale of water-based acrylic emulsions. Yantai New Materials' main business is the production and sale of adhesives, additives, and other products for coatings, mainly manufacturing and processing solvent-based acrylic resins. The two companies have significant differences in their main products, with very low overlap in customers. In order to better focus on its core business, eliminate excess production capacity, continuously improve operational quality, and embrace the current "green carbon" environmental policy, the company plans to transfer its 100% equity in Yantai New Materials through public listing, aiming to achieve high-quality and stable development of the listed company.