and state shares the actual controller pledged "possessions" because of glyphosate project "lack of money"

"High-stakes" Glyphosate investment project and state shares (market, inquiry) The actual controller He Zhenggang on September 11, the company limited sales conditions of 23 million shares of stock pledged to the Bank of China International Securities Limited Liability company, for the sale of stock pledge repurchase transactions. Why do companies actually control people to take most of their belongings to pledge? Industry insiders point out that the big "bet" on the glyphosate project would require a lot of money, and that is why it is a solution. Xinda Securities believes that as the IDA route in the industry chain the most complete, the lowest comprehensive cost of enterprises, and the State shares completed glyphosate production line construction and production, as well as asset purchase, will become China's glyphosate industry leading enterprises. The actual control person pledge "belongings" the announcement, the company actual control person He Zhenggang on September 11 The company limited sale condition circulation stock 23 million shares pledge to the BOC International Securities Limited Liability company, uses in the stock pledge type repurchase transaction business. Relevant pledge registration procedures have been completed, the initial trading day of September 11, 2013, due to buy back on March 10, 2016. The pledged shares accounted for 5.11% of the company's total equity. As of the announcement, the actual control person He Zhenggang held the company's limited sales conditions of 31.26 million shares, accounting for 6.95% of the company's total equity. Recently, and the state shares issued a number of major issues. September 10, and state shares announced that, in order to enrich the company's product varieties, to create a circular economy industrial chain, the company plans to build 50,000 tons/year glyphosate production projects, investment amount of about 500 million yuan. September 12, and state shares in the planning of non-public offerings to purchase assets suspended. According to industry sources, the increase is also to acquire glyphosate assets project. and state shares to "bet" on the glyphosate project, but to build production lines and buy assets is "in the bag of shyness." In the first half of 2013, operating income was $648 million, minus 37.98% per cent over a year earlier, and the net profit attributable to the parent company was $41.3437 million, minus 84.61% from a year earlier. The real controller of the 23 million-share pledge may be to obtain funds for the above glyphosate project investment. Or to increase the purchase of glyphosate assets for nearly a year, the price of glyphosate continued to rise, as the sales season gradually entered the middle and late, the market supply and demand tensions eased slightly, glyphosate showed high stability trend. The company's 50,000 tons of glyphosate investment project construction period of about 1 years, according to the current market price of glyphosate, and the state shares are expected to achieve revenue 2 billion yuan/year, pre-tax profit of 276 million yuan/year. For this project, a number of brokers said bullish. Galaxy Securities said that the investment in the construction of the 50,000 tons of glyphosate project for the downstream support of the extension, after the completion of the project, the company can flexibly adjust the market conditions of sub-amino acetonitrile, double glyphosate and glyphosate production and sales, conducive to upgrading the industry position. Fidelity Securities said the global glyphosate supply gap in 2013 was about 80,000 tonnes and would expand to 120,000 tonnes in 2014 years, and the glyphosate boom would continue into 2014. Furthermore，and state shares of the suspension planning asset acquisition, industry speculation, it is likely to the Sichuan provincial Salt Company issued shares to buy the latter hold the Shuncheng chemical 51% stake. At present, and the state shares hold Shuncheng chemical 49% of the equity, Non-public Distribution completed, and the state shares will hold Shuncheng chemical 100% equity. Shuncheng Chemical main products are the production of glyphosate important intermediates, once all master Shuncheng Chemical 100% stake, which also means that the company in glyphosate capacity has a great cost control.