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Infinity Development to Acquire Assets for Indonesia Manufacturing Plant
Infinity Dev (00640) subsidiary plans to acquire a series of assets.
Infinity Dev (00640) released an announcement, on November 19, 2024 (after the trading session), the buyer PT....
Infinity dev (00640.HK) plans to acquire assets worth 4.25 million USD to establish its manufacturing business with a new manufacturing facility in Indonesia.
On November 19, Gelunhui announced that on November 19, 2024, the buyer (an indirectly wholly-owned subsidiary of the company) and the seller entered into an agreement to purchase assets for a price of 4.25 million US dollars, to be used for establishing a new manufacturing plant in Indonesia by the group. After acquiring an industrial land and the foundation and architecture engineering of the land in Indonesia in April 2022, the group is currently constructing a new manufacturing plant on the land to better serve its customers by enhancing its cost competitiveness and freight time advantage, as well as further consolidating its core business. In summary.
CICC Securities: The chemical industry continued to fluctuate in the first half of the year, with strong tire exports and double growth in revenue and performance.
In the first half of 2024, the chemical industry achieved revenue of 1237.63 billion yuan, a year-on-year increase of +4.2%; net income attributable to the company was 75.25 billion yuan, a year-on-year increase of +0.8%.
Sealand Securities: The cyclical upturn of PX and pure benzene is expected.
The pure benzene industry has limited new production capacity, and the supply-demand imbalance is expected to continue. Stimulated by demand, it is expected that the global pure benzene industry operating rate will rebound strongly from 2024 to 2026.
China International Capital Corporation: The internationalization level of domestic chemical industry leading enterprises is relatively low, and the route of capacity going abroad is a must.
Exporting production capacity is an important way for Chinese chemical enterprises to promote international development, expand markets, and achieve win-win cooperation, and it is also a necessary path for excellent Chinese chemical enterprises to further grow and strengthen.
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