Baotashan Paint plans to dissolve two companies 12-13-2019

Shaanxi Baotashan Paint Co., (Baotashan Paint) had a meeting in mid-November 2019. In the meeting, the company passed a proposal for the cancellation of a subsidiary and a proposal for the cancellation of a joint-stock company.

According to the announcement, the subsidiary company Shaanxi Yingfeisheng Trading Co., Ltd. and the joint-stock company Baotashan Advertising will be delisted. Shaanxi Yingfeisheng Trading Co., Ltd. was founded on December 18, 2015 with a registered investment of RMB 5 million. The company’s legal representative is Mr. Li Bin. Shaanxi Yingfeisheng Trading Co., Ltd. runs various operations, including packaging tins, cartons, hardware and electric material, electric products, machines and devices, construction material, porcelain ware, sanitary ware, rubber and plastic products, paint or coating, as well as chemical engineering material and products (not including hazardous materials such as flammable and combustible materials).

Baotashan Paint aims to improve specialization and focus with subsidiary shutdown

Baotashan Advertising was founded in on July 30, 2010 with a registered investment of RMB 1 million. The legal representative of Baotashan Advertising is Ms. Yang Xiaoju. Ms. Yang Xiaoju invested RMB 600 thousand in Baotashan Advertising, holding 60% of share. Baotashan Paint invested RMB 400 thousand in Baotashan Advertising, holding 40% of share. The company runs operations including the design, production, agency and publishing of advertisements, display of goods, corporate image design and animation design and making (not including film making).

According to Baotashan Paint, since the establishment of Shaanxi Yingfeisheng Trading Co., Ltd. and Baotashan Advertising, their business has not been very successful. In terms of the strategic adjustment of Baotashan Paint and the need for developing the volume of business, Baotashan Paint planned to deregister both Shaanxi Yingfeisheng and Baotashan Advertising in order to optimise resource allocation and improve management and operation efficiency. Shaanxi Yingfeisheng Trading Co., Ltd. and Baotashan Advertising will not be included in the consolidated financial statement of Baotashan Paint. As a result, Shaanxi Yingfeisheng Trading Co., Ltd. and Baotashan Advertising will not contribute to Baotashan Paint’s business and profits.

Baotashan Paint with strong presence in China, north and southeast Asia, and South Africa

Shaanxi Baotaoshan Paint Co., Ltd. is a commercial enterprise based in the Shaanxi province. The company specializes in paints and surface coating materials and undertakes research, production, and sale of these products. Shaanxi Baotashan Paint Co., Ltd. has a number of subsidiary branches, including Shaanxi Baotashan Innovation Technology Co., Ltd Wuhan Baota Paint New Materials Co., Ltd., Shaanxi Baotashan Paint Co., Ltd. Xi'an Branch. , Shaanxi Yingfeisheng Trading Co., Ltd., ., Shaanxi Baotashan New Materials Co., Ltd., and Shaanxi Baotashan Engineering Technology Co., Ltd.

The total net worth of the company is over RMB 200 million. The company produces 70 thousand tonnes of pain and coating material annually, with an annual sales income of over RMB 400 million. Baotashan Paint hires 380 employees, with 46 technicians and 6 workers with master’s degree. The company set up a research and development laboratory for coating with Northwestern Polytechnical University of China and established a laboratory at East China University of Science and Technology. The company signed cooperative projects with universities including Xi’an Jiaotong University, Northwestern Polytechnical University of China, Shaanxi Normal University, and Shaanxi Institute of Technology.

Currently, Baotaoshan Paint products have been sold inside and outside China. The company has been set up network markets and physical establishments in 18 provinces and autonomous regions including Shanxi, Xizang, Inner Mongolia, Xinjiang, Gansu, Lanzhou, Qinghai, Ningxia and Beijing. The company also sells their products to Russia, Kyrgyz Republic, Kazakhstan, South Korea, various countries of southeast Asia, and South Africa.

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