(Hong Kong, 18 December 2024) - China Risun Group Limited (“China Risun”, or the “Group”, stock code: 1907.HK), a leading global integrated coke, coking chemicals and refined chemicals producer and supplier and relevant operation management services provider in China, has signed an investment agreement with Shenzhen Venture Capital Manufacturing Transformation and Upgrading New Materials Fund (Limited Partnership) (“Shenzhen Venture Capital”). As a strategic investor, Shenzhen Venture Capital will invest RMB800 million in China Risun’s subsidiary Cangzhou Risun Chemicals Limited ("Cangzhou Risun Chemicals") to help the Group transform and upgrade its new nylon materials business.
Shenzhen Venture Capital is a special-purpose vehicle of the National Manufacturing Transformation and Upgrading Fund Co., Ltd., focusing mainly on investing in the new materials sector. The general partner of the fund is Shenzhen Venture Capital Red Earth Private Equity Investment Fund Management (Shenzhen) Co., Ltd., a wholly-owned subsidiary of Shenzhen Capital Group Co., Ltd.
With caprolactam production capacity reaching 750,000-tonne/year, China Risun is the second largest caprolactam producer in the world, who boasts leading industrial chain competitiveness, supply chain efficiency and profitability. In recent years, with the country giving emphasis and support to the new materials industry, the Group has continued to step up research and development, as well as innovation, in the realm of new materials, and it now owns innovative technologies of various downstream high-end new nylon materials. It will keep forging ahead diligently with exploring alternatives to imports, and relevant new processes, new technologies and new varieties.
The agreement signifies the commitment of the two parties to collaborating in such areas as funding support, capital optimization, investment philosophy and management experience to jointly drive the Group in making yet greater breakthroughs in the field of new materials.
