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China National Salt Industry Corporation is the sole central enterprise in the Chinese salt industry supervised by the State-owned Assets Supervision and Administration Commission of the State Council and the largest salt production and sales company in Asia. At present, the company has a total of 35 wholly-owned and controlled subsidiaries in the country, with total assets of 12.15 billion yuan, and annual sales revenue of 5.207 billion yuan.
Ningfeng Chemical Group, which holds 30.38% of Yuncheng Salt Chemicals, was established in 1996 and has a total asset of about RMB 3.5 billion. Its leading products are inorganic salts, detergents and chemical fertilizers. It has the largest sodium sulfate inland salt lake in China – Yuncheng Salt Lake. And has Jiangsu, Sichuan, Hunan Glauber's resource base. Nanfeng Chemical Group's total assets have reached 3.6 billion yuan, and its annual sales revenue has reached more than 3 billion yuan, making it the largest inorganic salt, detergent and potassium sulfate production base in China. On October 23, 2007, Nanfeng Chemical received a notification from the Yuncheng Saltification Bureau in Shanxi Province. On that day, the Yuncheng government and the Chinese salt industry signed the “Cooperation Framework Agreement between the Yuncheng People's Government and the China Salt Industry Corporationâ€. According to the agreement, within 15 working days after the signing of the agreement, the intermediary organizations agreed by the People's Government of Yuncheng City and China National Salt Industry Corporation will perform due diligence and audit on Shanxi Yuncheng Salt Chemical Bureau, and sign the formal assets within 20 working days. Transfer agreement. According to the agreement, after the reorganization, Shanxi Yuncheng Salinization Bureau will become a subordinate enterprise of Zhong Yan, and it will be renamed as “Yancheng Yuncheng Salt Chemical (Group) Co., Ltd.â€.
It is understood that in the past two years, Zhong Yan has successively reorganized Lan Tai Industrial, Xinjiang Salt Industry, and Hunan Zhuhua.
Nanfeng Chemical Transfers China Salt Industry to China
On October 29, Nanfeng Chemical Group Co., Ltd. issued an announcement to disclose the mystery of abnormal fluctuations in stock prices. After verification by the company, the Yuncheng City People's Government will own all the state-owned property rights of Shanxi Yuncheng Salt Chemicals Bureau (controlling shareholders). Transfer to China Salt Industry Corporation. After the reorganization, the actual controller of the company will be changed from Yuncheng SASAC to China Salt Industry Corporation.