Company Index
ChemChina
ChemChina
NEWS
Industry downturn means debt-laden ChemChina, which acquired the Swiss firm for $43 billion seven years ago, is unlikely to see the cash windfall it was hoping for
Jun.20 2024 20:16 PM
Former Chairman Ren Jianxin and ex-President Yang Xingqiang were involved in the controversial acquisition of the Swiss agrochemical giant in 2017
May.13 2024 19:41 PM
- Syngenta Group, a leading global agrochemical company, has paused its planned IPO on China's A-share market after withdrawing a 65 billion yuan application in March 2024. This follows a previous withdrawal from the STAR Market in May 2023. The withdrawals were attributed to the large fundraising scale challenging for the A-share market to absorb and a downturn in the agrochemical industry affecting Syngenta's performance.
- From 2020 to 2022, Syngenta Group reported increasing revenues but faced a significant profit drop by 86.9% in the first nine months of 2023 compared to the same period in 2022. Financial challenges included high initial financial leverage and interest expenses from debts incurred during aggressive acquisitions, including the $49 billion purchase of Swiss Syngenta by ChemChina.
- Despite setbacks, Syngenta remains committed to eventually relisting, focusing on enhancing its R&D capabilities within China to meet local agricultural transformation needs. The group aims to leverage its global network to promote Chinese agricultural innovation globally while facing stringent regulatory environments and market cultivation challenges for genetically modified (GM) crops in China.
Apr.27 2024 13:24 PM
Beijing Mayor Chen Jining is appointed Communist Party chief of Shanghai. Another executive from China Development Bank is probed for graft
Oct.31 2022 09:52 AM
Unit of state-owned chemical giant Sinochem Holdings took a 12% position in Mercuria in 2016 and once contemplated a cross-shareholding arrangement
Oct.28 2022 03:43 AM
The ChemChina-owned group’s sales jumped 23% to $28.2 billion thanks to rising demand
Apr.1 2022 20:23 PM
ChemChina-owned company’s earnings rose to $2.7 billion in the first half of the year, while sales grew 24%
Aug.26 2021 18:34 PM
Swiss-based unit of state-owned ChemChina may also raise cash in a secondary share sale in Europe or the U.S. and plans to plow the money into the business
Jul.3 2021 05:47 AM
Shenzhen to set up carbon emissions fund; Baoneng’s NEV unit gets a $1.9 billion investment; Sinochem-ChemChina combination proceeds
Jun.17 2021 07:31 AM
Subsidiary Syngenta remains the wildcard in the deal as it has signaled plans to IPO in mid-2022 in a move that could relieve debt pressures accumulated during its $43 billion 2016 acquisition
May.10 2021 19:49 PM
Recently formed Swiss-based, Chinese-owned agricultural giant says its revenue and EBITDA rose about 20% year-on-year in first quarter
Apr.29 2021 18:32 PM
Company created last year by combining former Swiss giant with ChemChina’s Chinese and Israeli assets reported 5% revenue rise in 2020
Apr.7 2021 19:21 PM
Long-speculated combination of state-owned enterprises will create a chemical giant after the two consolidated agricultural assets in newly formed Syngenta Group
Apr.1 2021 05:19 AM
Spreads on the state-owned ChemChina’s new offshore notes widened as much as 10 basis points on Tuesday
Sep.16 2020 12:14 PM
Jupiter Asset Management is one of many investors bracing for volatility in the run-up to the U.S. presidential election in November
Sep.11 2020 14:22 PM
This program goes a step beyond our daily podcast. By highlighting and explaining key words, we offer a unique platform for you to learn more business words and understand how they are used in context.我们精心挑选播客中的专业商业英语词汇，加上专人撰写的词汇解释，为您呈现词汇在新闻和日常生活中的用法，祝您获得更流畅的英语事实表述和问题阐释能力。
Aug.27 2020 16:11 PM
SOE’s $43 billion purchase of Swiss firm has left it with bills it is still grappling with. Even a planned IPO may not be the lifeline it’s hoping for
Jul.23 2020 20:45 PM
National $13 billion green development fund unveiled in Shanghai; chipmaker SMIC prepares for biggest mainland share debut in a decade
Jul.15 2020 20:07 PM
Chinese chemical giant tries to attract investments before taking unit public on STAR Market but may have to lower its valuation target as some funds balk
Jul.15 2020 01:46 AM
Syngenta Group could face headwinds as it ramps up efforts to expand China business, analysts say
Jun.20 2020 19:02 PM
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