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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