zhenhua chemical(SH:603067) Shang Hai Zheng Quan Bao·2025-11-24 19:03Core Viewpoint - Hubei Zhenhua Chemical Co., Ltd. announced that its wholly-owned subsidiary, Chongqing Minfeng Chemical Co., Ltd., has received environmental approval for a new project and signed agreements for relocation and compensation [2][3]. Summary by Sections Relocation Overview - The relocation is in response to the environmental upgrade directives from the Chongqing municipal government, involving the relocation of facilities and equipment from the current site in the northern industrial park of Tongnan District [7]. - The approved project includes seven sub-projects, such as a 200,000 tons/year chromium compound project and a 50,000 tons/year sulfuric acid project [7]. Agreement Details - Chongqing Minfeng signed a relocation asset acquisition agreement with Chongqing Tongnan District Industrial Investment Development Group Co., Ltd., with a total acquisition price of 517.569 million yuan [2][8]. - A separate compensation agreement for machinery and equipment was signed with the management committee of the Tongnan High-tech Industrial Development Zone, amounting to 244.7286 million yuan [2][8]. Payment Schedule - The payment for the acquisition will be made in multiple installments, including an initial payment of 20% upon signing, followed by additional payments based on project milestones [10][11][12][14]. - The total compensation amount for machinery and equipment will also be paid in stages, with 20% due before the new site is unveiled [16][17][18]. Impact on Company Operations - The current operations at the old site are stable, and the relocation will not affect the ongoing production until the new facility is fully operational [19].