Why did Weifang Chengtou buy Yaxing Chemical?

The acquisition of Yaxing Chemical by Weifang Chengtou is a decision made by Weifang Chengtou to optimize the industrial structure, improve the comprehensive strength of enterprises and promote local economic development. Weifang City Construction Investment Group Co., Ltd. (hereinafter referred to as "Weifang City Investment") successfully acquired Yaxing Chemical Co., Ltd. (hereinafter referred to as "Yaxing Chemical") on 20 19. Yaxing Chemical is a chemical enterprise mainly engaged in methanol and involved in plastic products and chemical fiber industries. The main reason for Weifang Chengtou's acquisition of Yaxing Chemical is that the company's financial situation was relatively poor before the merger, the asset-liability ratio was high, and some fixed assets were idle. This acquisition is a decision made by Weifang City Investment Company to optimize the industrial structure, improve the comprehensive strength of enterprises and promote the development of local economy. Yaxing Chemical is located in Weifang City, Shandong Province, with a superior geographical position, which is conducive to promoting the industrial development and regional economic development of Weifang City. After the acquisition of Yaxing Chemical, Weifang City Investment made great efforts to strengthen enterprise financial management, optimized and reconstructed organizational structure and investment in technology research and development, and improved enterprise management level and market competitiveness. The acquisition is also of positive significance for promoting Weifang's industrial transformation, optimizing the industrial structure and improving the level of economic development.