Gulf Chemical's IPO on the Shanghai Stock Exchange main board has been "terminated", with polyvinyl chloride production capacity ranking first domestically in ethylene method.

On June 20th, Qingdao Haier Chemical Co., Ltd. (referred to as Haier Chemical) had its IPO application terminated by the Shanghai Stock Exchange. This was due to Haier Chemical and its sponsor withdrawing their application for listing. In accordance with Article 63 of the Shanghai Stock Exchange's Stock Issuance and Listing Review Rules, the IPO review was terminated. According to the prospectus, Haier Chemical's main business includes research, production, and sales of Shanghai Chlor-alkali Chemical, organic chemical raw materials, high polymer new materials, and inorganic silicon products. Its main products include ethylene method PVC, styrene, polystyrene, and caustic soda. It also uses some self-produced caustic soda to produce sodium metasilicate, extending its business into the inorganic chemical industry. Over the years, the company has adhered to the development concept of "internationalization of technology, large-scale equipment, environmental ecology, and modern management". It has expanded cooperation with internationally renowned companies such as Ineos, Chlor Engineering, Western Chemicals, Dexinib, KBR, and Beger to introduce their leading process technology and production equipment, creating a comprehensive modern industrial enterprise for the production and sales of Shanghai Chlor-alkali Chemical, organic chemical raw materials, high polymer new materials, and inorganic silicon products. Currently, the company has completed the construction and commissioning of an annual production capacity of 850,000 tons of ethylene method PVC, 500,000 tons of styrene, 200,000 tons of polystyrene, 555,000 tons of caustic soda, and 160,000 tons of sodium metasilicate. According to statistics from the China Chlor-Alkali Industry Association, the company's ethylene method PVC production capacity ranks first domestically. Meanwhile, the company is also currently constructing or planning projects such as a 240,000 tons/year high-end polycarbonate BPA project, a 375,000 tons/year epichlorohydrin green circular economy project (Phase I), a 150,000 tons/year epoxy resin project, and a 400,000 tons/year ethylene oxychlorination chloroethane expansion project. Upon completion, the company will further extend and enrich its product range, form industrial synergy and circulation, and promote the green industrial chain towards a direction of refinement, differentiation, and high added value. The company's main products including polyvinyl chloride, styrene, polystyrene, caustic soda, and sodium metasilicate have production capacities that are in the top tier of the industry and even internationally, with a prominent brand advantage. According to statistics from the China Chlor-Alkali Industry Association, in terms of production capacity, the company's polyvinyl chloride production capacity ranks first in the domestic ethylene method. Financially, Haier Chemical achieved operating revenues of approximately RMB 7.038 billion, RMB 6.053 billion, RMB 13.028 billion, and RMB 6.962 billion in the years 2019, 2020, 2021, and the first half of 2022, respectively. During the same periods, the net profits were approximately RMB 485 million, RMB 301 million, RMB 2.076 billion, and RMB 1.006 billion, respectively.