Hubei Dinglong Chemicals Opens New Subsidiary

Hubei Dinglong Chemicals (Dinglong) and its wholly owned subsidiary Zhuhai Mito Color Imaging Co., Ltd (Mito), Zhuhai Dingyao Share Ownership Investment Enterprise (limited partnership) and natural person Zhou Honghui have jointly founded Zhuhai Dinglong New Material Co., Ltd (“the joint venture” for short). The new joint venture will implement the developer roller project by leasing a plant.

As was revealed, the registration capital of the new venture amounts to RMB10 million (approximately US$15.6 million). Dinglong and Mito injected RMB 5.1 million (approximately US$0.8 million) and RMB 1.9 (approximately US$0.3 million) respectively, which account for 51% and 19% of the newly established subsidiary’s capital stock respectively.

Dionglong explained that the developer roller is the core component for a toner cartridge which directly impact the development effect of a printer or copier. The company pointed out that some development products on the current domestic market have problems of unstable quality, incomplete models and lagging R&D. These products fail to meet the company’s requirements for good performance by remanufactured toners. Self-supplying developer rollers can raise the requirements for differentiating adaptation and improve Dinglong toner cartridges’ competitiveness and differentiation advantages. Also, this will be beneficial for improving the quality of the company’s color polymerized toner and product differentiation. Dinglong said the new joint venture will directly enhance the sale of its color polymerized toner and remanufactured toner cartridges. The new venture will first meet the demand for self-supplying and gradually open for sale in future.

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