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DECHENG TECHNOLOGY AG (FRA:DE000A1Y) DGAP-News: Decheng Technology AG: Potential cooperation with major Chinese food company reaches next stage

Transparency directive : regulatory news

09/02/2018 15:38

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DGAP-News: Decheng Technology AG / Key word(s): Miscellaneous
Decheng Technology AG: Potential cooperation with major Chinese food company reaches next stage

09.02.2018 / 15:38
The issuer is solely responsible for the content of this announcement.


CORPORATE NEWS February 9, 2018

Decheng Technology AG: Potential cooperation with major Chinese food company reaches next stage

- Chinese food giant is currently in the process of inspecting Decheng's products

- CEO ZHU: "Company will benefit from market with high entry barrier"


Cologne, February 9, 2018. Decheng Technology AG (ISIN: DE000A1YDDM9; German Securities Identification Number (WKN): A1YDDM; ticker symbol: 333), a Chinese manufacturer of polyurethane resin and additives, announces that the possible cooperation with Dali Food Group has entered into the next stage.

Quanzhou City-based Dali Foods Group (listed on the Hong Kong Stock Exchange, code 3799), manufactures and distributes high-profile brands such as Daliyuan, Copico, Haochidian, Heqizheng, and Hi-Tiger, which are among the most popular food brands in China. In the first six months of 2017, Dali Foods Group recorded sales amounting to RMB 9.89bn.

Decheng Technology AG's CEO, ZHU Xiaofang, commented: "The recent introduction of regulations by the Chinese government encourage the use of water-based polyurethanes for food packaging. Thanks to our strong R&D efforts we are able to provide solutions for the food industry which will open up new market potential for our company. The barriers for market entry are high, which will give us a competitive advantage. Once our material has successfully completed Dali Foods Group's quality inspection stage, we expect the new material to achieve a revenue of approximately RMB 30mn in 2018."

About Decheng Technology AG
Decheng Technology AG is occupied with the research, development and the production of polyurethane resin and additives that enhance and improve the product features of textiles, leather and electronic components. The production site is located in Quangang, Quanzhou City, Fujian Province, People's Republic of China. In fiscal year 2016, the Company achieved sales of EUR 75.8 million, an operating result of EUR 25.4 million and employed 119 persons. The shares of Decheng Technology AG are listed in the General Standard Segment of the Frankfurt Stock Exchange.




Contact:
VPC Group
Frankfurt Branch
Bleichstr. 64-66
60313 Frankfurt
Germany
+49 69 175371963
ir@dechengtechnology.com


09.02.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Decheng Technology AG
Martin-Luther-Platz 26
40212 Düsseldorf
Germany
Phone: +49 (0)211-78179033
E-mail: contact@dechengtechnology.com
Internet: www.dechengtechnology.com
ISIN: DE000A1YDDM9
WKN: A1YDDM
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Tradegate Exchange

 
End of News DGAP News Service

653163  09.02.2018 

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