神马股份，投建两大尼龙产业链项目

Core Viewpoint - Shennma Co., Ltd. is reallocating remaining fundraising from a terminated project to new investment projects, including a 200,000-ton nylon 6 chip project and a 50,000-ton/year adiponitrile project, which are crucial for the company's supply chain and production capabilities [1][2][3]. Group 1: Investment Projects - Shennma Co. plans to use 328 million yuan from the terminated 240,000-ton bisphenol A project to fund a 200,000-ton nylon 6 chip project at its subsidiary, Henan Shennma Puli Materials Co., Ltd. [1] - The adiponitrile project, with an investment of approximately 148.69 million yuan, aims to produce key materials for nylon 66, addressing the current reliance on imports [2][3]. - The nylon 6 chip project will include advanced production lines and is expected to meet the growing demand for high-quality differentiated nylon 6 chips, with a total investment of 899 million yuan [2][3]. Group 2: Market Context and Technology - Adiponitrile is a critical raw material for producing nylon 66 intermediates, and its production has been historically dominated by foreign companies due to high technical and capital barriers [2]. - The production methods for adiponitrile include three main processes, with the direct hydrogenation of butadiene being the most efficient and cost-effective [2]. - Shennma Co. anticipates a demand of approximately 300,000 tons of adiponitrile annually, highlighting the importance of establishing domestic production capabilities to secure its supply chain [2][3]. Group 3: Strategic Importance - The establishment of the adiponitrile production line is crucial for Shennma Co. to overcome supply chain bottlenecks and enhance its downstream industry chain [2]. - The nylon 6 chip project is positioned to produce high-value-added products for various applications, including automotive, home appliances, and medical fields, indicating a broad market potential [3]. - The projects are aligned with Shennma Co.'s strategy to enhance its competitive edge in the nylon industry by leveraging advanced technology and expanding production capacity [3].