On July 11th, Lubei Chemical released a plan to issue A-shares to specific targets through a simplified procedure, with a total fundraising amount not exceeding 300 million yuan. After deducting relevant issuance expenses, all funds will be used for the annual production of 60,000 tons of chlorinated titanium dioxide expansion project.

According to the contingency plan, the 60,000 ton chlorinated titanium dioxide expansion project of Lubei Chemical is expected to be totally invested at 719 million yuan, with a construction period of 19 months and run by Xianghai Technology, a wholly-owned subsidiary of Lubei Chemical. The company plans to expand the 60,000 ton/year chlorination method rutile titanium dioxide plant by installing equipment and supporting public facilities in the existing 60,000 ton/year chlorinated titanium dioxide plant area. At the same time, the project will be accompanied by the construction of a 20,000-ton electrolytic hydrochloric acid chlorine gas production facility, with all chlorine gas products for self-use.