HLGF(SH:600346) Shang Hai Zheng Quan Bao·2025-08-15 19:21Overview - The core point of the announcement is that Hengli Petrochemical Co., Ltd. has approved the absorption merger of its wholly-owned subsidiaries, Hengli Petrochemical (Dalian) Refining Co., Ltd. and Hengli Petrochemical (Dalian) Chemical Co., Ltd., to optimize management structure and improve operational efficiency [2][10]. Group 1: Merger Details - The merger involves Hengli Refining absorbing Hengli Chemical, with Hengli Refining continuing operations and Hengli Chemical being legally dissolved [5]. - The merger is not classified as a related party transaction or a major asset restructuring under relevant regulations, thus does not require shareholder approval [2][10]. - The merger is set to be effective as of July 31, 2025 [6]. Group 2: Financial Information - As of December 31, 2024, Hengli Refining had total assets of 113.47 billion RMB, total liabilities of 80.23 billion RMB, and net assets of 33.24 billion RMB, with an annual revenue of 226.97 billion RMB and a net profit of 1.98 billion RMB [4]. - Hengli Chemical, as of the same date, had total assets of 70.58 billion RMB, total liabilities of 60.49 billion RMB, and net assets of 1.01 billion RMB, with an annual revenue of 42.11 billion RMB and a net profit of 236.91 million RMB [4]. Group 3: Impact of the Merger - The merger is expected to enhance the company's management structure, improve operational efficiency, optimize resource allocation, and reduce management costs, thereby promoting quality and efficiency improvements [9]. - The financial statements of both subsidiaries are already included in the company's consolidated financial statements, indicating that the merger will not significantly impact the company's normal operations, financial status, or results [9].