广东环保集团将入主雪峰科技 整合后雪峰科技炸药产能或将跃居全国首位

Core Viewpoint - The transfer of 21% shares of Xuefeng Technology to Guangdong Hongda marks a significant consolidation in the domestic civil explosive industry, with Guangdong Hongda becoming the controlling shareholder and changing the actual controller to Guangdong Environmental Group [1][2]. Group 1: Company Overview - Xuefeng Technology will see its controlling stake shift to Guangdong Hongda, which will support its rapid development by transferring or injecting a minimum of 150,000 tons of explosive capacity within 36 months [2]. - Following the transfer, Xuefeng Technology's industrial explosive capacity is projected to increase from 117,500 tons per year to 611,500 tons per year, potentially making it the leader in the national civil explosive industry [2]. Group 2: Industry Context - The civil explosive industry in China is experiencing intense competition, with increasing market concentration as outlined in the "14th Five-Year Plan for the Safe Development of Civil Explosives Industry" [1]. - Xinjiang's coal reserves account for approximately 40% of the national total, positioning it as a crucial energy reserve area, which is expected to drive explosive demand growth significantly in the region [3].