Lier Chemical Co Ltd

During the "Vibrant China Survey Tour" Hunan stop, Jiemian News found that a group of manufacturing enterprises in Hunan are achieving industrial breakthroughs through technological innovation, globalization, and digital intelligence. Jinyang Hydrogen Energy, a subsidiary of KBC Corporation, has built a production line with an annual capacity of 300,000 square meters of carbon paper, breaking the long-term monopoly of Japan's Toray, Germany's SGL, and South Korea's JNTG, and beginning to change the bottleneck situation where the domestic substitution rate was less than 5%. Zoomlion Heavy Industry Science and Technology recorded overseas revenue of 30.515 billion yuan in 2025, up 30.52% year on year, with overseas revenue accounting for nearly 60% of the total, an increase of 7.15 percentage points from the previous year. It has about 9,000 overseas employees covering more than 170 countries. Jinshi City has gathered 41 biomanufacturing enterprises. Lier Bio achieved the world's first industrialization of glufosinate-P, and Xinhexin Bio holds nearly 70% of the global market share for corticosteroids. The local government plans to grow the biomanufacturing industry's output value to 30 billion yuan by 2030. At Zoomlion's Smart Industrial City, one excavator rolls off the production line every six minutes on average. The company has invested more than 10 billion yuan in digitalization and plans to deploy 1,000 to 2,000 embodied intelligent robots over the next five years.

Glufosinate-ammonium leader Lier Chemical opened at its daily limit up on July 30, briefly broke the board during the session before sealing back at 16.18 yuan, with over 200,000 lots in unfilled buy orders and a latest market cap of 12.9 billion yuan. In related news, China Resources Double-Crane plans to acquire a 23.5% stake in Lier Chemical via cash payment, at a transfer price of 30.07 yuan per share, for a total consideration of 5.656 billion yuan. Upon completion of the transaction, Lier Chemical's controlling shareholder will change to China Resources Double-Crane, and its actual controller will become China Resources Company Limited. The deal is expected to constitute a major asset restructuring.

China Resources Double-Crane announced plans to acquire a combined 23.50% stake in Lier Chemical through a cash payment, with a total consideration of 5.656 billion yuan, and will gain control of Lier Chemical upon completion. Specifically, it will purchase a 20% stake from Sichuan Jiuyuan Investment Holding Group and a 3.50% stake from Sichuan Huacai Technology, at a transfer price of 30.07 yuan per share, totaling 188 million shares. Lier Chemical is the largest domestic producer of chloropyridine pesticide technicals and formulations, and also a large-scale producer of glufosinate and refined glufosinate technicals. China Resources Double-Crane has been building its presence in the biomanufacturing sector since 2022 and has stockpiled multiple synthetic biology pesticide products but lacks an industrialization platform. This acquisition can rapidly achieve the industrialization of its technology and products, building a second growth curve in synthetic biology.

China Resources Double-Crane, an indirect non-wholly-owned subsidiary of China Resources Pharmaceutical, has participated in the acquisition of 188 million shares of Lier Chemical, representing approximately 23.50% of Lier Chemical's equity. China Resources Double-Crane received notice from the seller confirming that it is the top-ranked intended transferee in the above-mentioned public solicitation transfer. Lier Chemical is mainly engaged in the research, development, production and sales of high-efficiency, low-toxicity, low-residue and safe pesticide active ingredients and pesticide formulations.