Foshan Plastics Technology Plans to Establish a Controlling Subsidiary and Invest in Polyamide-Nylon Film Project

On September 26, Foshan Plastics Group Co., Ltd. (stock code: 000973, referred to as Foshan Plastics) announced that it would jointly establish a project company with Sinopec Hunan Petroleum and Chemical Co., Ltd. in Yueyang City, Hunan Province, to invest in the construction of a polyamide-nylon film project. The registered capital of the project company will be 960 million yuan, with Foshan Plastics contributing 576 million yuan, holding a 60% stake, and Hunan Petrochemical contributing 384 million yuan, holding a 40% stake. The total investment in the project amounts to 3.46911 billion yuan, with a planned construction period of 38 months.

Foshan Plastics Group Co., Ltd.

On September 26, 2025, the company convened the 31st meeting of the 11th Board of Directors and approved the proposal regarding the establishment of a project company to invest in and construct the polyamide-nylon film project. The above proposal is subject to approval by the company's shareholders' meeting.

According to Tianyancha, Foshan Plastics Group Co., Ltd. was established on June 28, 1988, with a registered capital of 967.423171 million RMB. The legal representative is Tang Qiang, and the registered address is Building 2, No. 7 Qinggong 3rd Road, Zhangcha Street, Chancheng District, Foshan City. The main business is the production and sales of various advanced polymer new materials.

The current chairman of the company is Tang Qiang, the board secretary is He Shuixiu, the number of employees is 2,512, and the actual controller is the People's Government of Guangdong Province.

The company holds shares in 17 associated companies, including Foshan Sanshui Shuntong Polyester Chip Co., Ltd., Foshan Sanshui Changfeng Plastic Co., Ltd., Foshan EasyStar Capacitor Material Co., Ltd., Foshan Fuda Investment Co., Ltd., and Foshan Laibaoli High-Energy Technology Co., Ltd., among others.

In terms of performance, the company's operating revenue for the years 2024 to Q2 2025 is projected to be 2.228 billion yuan, 512 million yuan, and 1.078 billion yuan, representing year-on-year growth of 0.61%, 2.26%, and 0.99%, respectively. The net profit attributable to shareholders is expected to be 120 million yuan, 19.9122 million yuan, and 52.9901 million yuan, with year-on-year growth rates of -44.08%, 9.98%, and 5.20%, respectively. During the same period, the company's asset-liability ratios are projected to be 27.07%, 27.99%, and 28.96%.

In terms of risk, Tianyancha information shows that the company has 273 self-related Tianyan risks, 98 surrounding Tianyan risks, 64 historical Tianyan risks, and 217 warning reminder Tianyan risks.