BHCC(SH:600800) 中国基金报·2025-12-05 14:41Core Viewpoint - Bohai Chemical is planning to acquire control of Tianjin Taida New Materials Co., Ltd. by selling its 100% stake in Tianjin Bohai Petrochemical Co., Ltd. and through a combination of issuing shares and cash payment [1][4]. Group 1: Transaction Details - Bohai Chemical's stock has been suspended from trading since December 8, 2025, due to the planned major asset restructuring, which will not lead to a change in the actual controller and does not constitute a restructuring listing [3][4]. - The transaction is still in the planning stage, and no formal agreement has been signed yet, indicating uncertainty regarding its implementation [4]. Group 2: Company Performance - Bohai Chemical has been under long-term performance pressure, reporting losses since 2022. The company aims to transform its business model, and acquiring Taida New Materials may represent a significant step in this direction [5][6]. - The company’s total revenue for 2022 was 32.25 billion CNY, a decrease of 46.67% year-on-year, while total costs were 38.81 billion CNY, leading to an operating loss of 6.47 billion CNY [7]. - The net profit attributable to shareholders was -5.21 billion CNY in 2022, reflecting a year-on-year decline of 1,262.55% [7]. Group 3: Taida New Materials Overview - Taida New Materials specializes in the research, development, manufacturing, and sales of heavy aromatic oxidation products, with its main product being trimellitic anhydride (TMA), which has various applications in industries such as PVC resin plasticizers and epoxy resin curing agents [6][8]. - Taida New Materials has attempted to go public on the A-share market multiple times since 2016 but has faced repeated failures [8].