Shenma Co., Ltd. and the new company of Yili Group were officially established
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June 5, 2024, 11:50 AM On May 31, Shenma Yili (Henan) Fiber Co., Ltd. completed the industrial and commercial establishment registration, marking the official establishment of a new company jointly funded by Shenma and Yili Group. The registered capital of the new company is RMB 135 million yuan, of which the subscribed capital contribution of Shenma Shares is 68.85 million yuan, accounting for 51% of the registered capital, and the subscribed capital contribution of Yili Group is 66.15 million yuan, accounting for 49% of the registered capital. The joint venture company will build the first phase of the nylon 66 civil silk project with an annual output of 7000 tons, which marks that China Pingmei Shenma Group will enter the high-end nylon 66 civil silk market. It is understood that the construction of production facilities of the joint venture has strict environmental requirements and will adopt Lili Group's product sustainability (TPS) standards. It is expected that the production capacity will reach 20,000 tons in the next few years.