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Jianfeng Chemical acquires melamine assets
Chongqing Jianfeng Chemical Co., Ltd. recently announced that the company will spend 163 million yuan to purchase melamine assets from its controlling shareholder Chongqing Jianfeng Industrial Group Co., Ltd. The total planned capacity of the melamine branch is 60,000 tons/year, which is constructed in two phases, each with a capacity of 30,000 tons/year. The first-phase device was started construction in 2005. In November 2007, it was successfully commissioned. The company is now actively carrying out preliminary preparations for the construction of the second phase of the project. After the acquisition is completed, it is expected that the company's annual new sales revenue will reach 139 million yuan, the new net profit will be 9.47 million yuan, and the earnings per share will increase by 0.016 yuan.