亚星化学收购天一化学告吹 短期内生项目成关键依靠

Core Viewpoint - Weifang Yaxing Chemical Co., Ltd. has announced the termination of its acquisition of 100% equity in Shandong Tianyi Chemical Co., Ltd., marking another setback in its attempts to transform through external mergers and acquisitions since facing operational difficulties in 2019 [1][2]. Group 1: Acquisition Termination - The termination of the acquisition is attributed to the failure of the parties involved to reach consensus on key issues such as core demands and asset valuation [1][2]. - The acquisition was initially seen as a crucial step for Yaxing Chemical to enhance its profitability and core competitiveness, as Tianyi Chemical is a leading player in the brominated flame retardant sector with a high market share [2][3]. Group 2: Internal Projects and Future Strategy - Following the termination, Yaxing Chemical's focus has shifted entirely to internal projects, with recent announcements of trial production for its high-end materials project and other chemical projects [3]. - These internal projects are viewed as critical for the company's transformation and profitability, although they face uncertainties in market development and cost control [3][4]. Group 3: Historical Context and Industry Challenges - This is not the first time Yaxing Chemical has faced challenges in its transformation efforts, as previous attempts at mergers and acquisitions have also failed, reflecting broader challenges in the chemical industry regarding valuation expectations and market realities [4][5]. - Experts suggest that other chemical companies under transformation pressure should optimize their acquisition strategies by thoroughly assessing technical feasibility and market risks during due diligence [5].