Development History

　　Date of Establishment: September 2006;

　　Changes in Equity Structure: Chongqing Yihua Chemical Co., Ltd. (hereinafter referred to as “Chongqing Yihua”), located in Wanzhou District, Chongqing Municipality—the heart of the Three Gorges Reservoir area—is a limited liability company established through investment by Guizhou Yihua Chemical Co., Ltd., Guizhou Xinghua Chemical Industry Co., Ltd., and Xishui County Fureide Chemical Co., Ltd. It was founded on September 22, 2006, with a registered capital of 300 million yuan, and its legal representative is Wang Huaxiong.

　　On January 14, 2008, Hubei Shuanghuan Technology (Chongqing) Alkali Industry Investment Co., Ltd. signed a share transfer agreement with Guizhou Yihua Chemical Co., Ltd., acquiring a 45% stake in Chongqing Yihua. As a result, the equity structure of Chongqing Yihua is as follows: Hubei Shuanghuan Technology (Chongqing) Alkali Industry Investment Co., Ltd. holds 135 million shares, representing 45% of the total share capital; Guizhou Xinghua Chemical Industry Co., Ltd. holds 120 million shares, representing 30% of the total share capital; and Xishui County Fureide Chemical Co., Ltd. holds 75 million shares, representing 25% of the total share capital.

　　On July 16, 2009, the company amended its articles of association and increased its registered capital by 120 million yuan. As a result, the equity structure of Chongqing Yihua is as follows: Hubei Shuanghuan Technology (Chongqing) Alkali Industry Investment Co., Ltd. holds 189 million shares, representing 45% of the total share capital; Guizhou Xinghua Chemical Industry Co., Ltd. holds 126 million shares, representing 30% of the total share capital; and Xishui County Furide Chemical Co., Ltd. holds 105 million shares, representing 25% of the total share capital.

　　On June 1, 2010, the shareholders Guizhou Xinghua Chemical Co., Ltd. and Xishui County Fureide Chemical Co., Ltd. transferred their equity interests to Yichang Wealth Investment Management Co., Ltd.;

　　On June 23, Yichang Wealth Investment Management Co., Ltd. transferred all of its equity holdings to Hubei Yihua Group Co., Ltd., resulting in Hubei Shuanghuan Technology (Chongqing) Alkali Industry Investment Co., Ltd. holding 189 million shares, representing 45% of the total share capital, and Hubei Yihua Group Co., Ltd. holding 231 million shares, representing 55% of the total share capital.

　　On August 21 of the same year, Hubei Yihua Group Co., Ltd. transferred all its equity interests to Hubei Shuanghuan Technology Co., Ltd. The equity structure of Chongqing Yihua is as follows: Hubei Shuanghuan Technology (Chongqing) Alkali Industry Investment Co., Ltd. holds 189 million shares, representing 45% of the total share capital; Hubei Shuanghuan Technology Co., Ltd. holds 231 million shares, representing 55% of the total share capital.

　　On May 28, 2013, the shareholder Hubei Shuanghuan Technology Co., Ltd. completed the industrial and commercial registration procedures for the absorption merger of its wholly-owned subsidiary, Hubei Shuanghuan Technology (Chongqing) Alkali Industry Investment Co., Ltd. As a result, the equity structure of Chongqing Yihua has changed as follows: Hubei Shuanghuan Technology Co., Ltd. now holds 420 million shares, representing 100% of the total share capital.

　　On December 20, 2013, the shareholder Hubei Shuanghuan Technology Co., Ltd. increased its capital contribution by 80 million yuan, raising the registered capital from 420 million yuan to 500 million yuan.

　　On December 27, 2018, Hunan Light Industry Salt Industry Group Co., Ltd. and Hunan Light Salt Shengfu Salt Chemical Industry Private Equity Fund Partnership (Limited Partnership) acquired Chongqing Yihua by way of an agreed-upon transfer, holding 51% and 49% of the shares, respectively.

　　On July 31, 2019, Hunan Light Industry Salt Industry Group Co., Ltd. and Hunan Light Salt Shengfu Salt & Chemical Industry Private Equity Fund Partnership (Limited Partnership) each contributed RMB 510,000 and RMB 490,000 to Chongqing Yihua Chemical Co., Ltd. by converting debt into equity. The cumulative contributions from Hunan Light Industry Salt Industry Group Co., Ltd. and Hunan Light Salt Shengfu Salt & Chemical Industry Private Equity Fund Partnership (Limited Partnership) amounted to RMB 255.51 million and RMB 245.49 million, respectively, with respective equity proportions of 51% and 49%.

　　On August 16, 2019, the company’s name was changed from Chongqing Yihua Chemical Co., Ltd. to Chongqing Xiangyu Salt & Chemical Co., Ltd.

　　On September 6, 2019, the company was renamed Chongqing Xiangyu Salt & Chemical Co., Ltd. and completed the corresponding industrial and commercial registration change.

　　On December 15, 2021, through asset securitization, it was officially incorporated into Xue Tian Salt Industry and reorganized as Chongqing Xiangyu Salt & Chemical Co., Ltd.