On January 31, Qingdao Tianhua Institute Chemical Engineering Co., Ltd. announced that it would use 150 million yuan of its own funds to establish a wholly-owned subsidiary "Fujian Tianhua Intelligent Equipment Co., Ltd" (tentative name).
　　At present, the board of directors of the company has authorized the management of Qingdao Tianhua Institute to handle the preparation and establishment of new companies.
　　It is reported that the address of the new company is located in the High-tech Industrial Development Zone of Sanming City, Fujian Province. The main products include special equipment for rubber processing such as high-grade radial tire vulcanizers.
　　In addition, the address of Fujian Tianhua Intelligent Equipment is not far from “Fujian Sanming Shuanglun Chemical Machinery Co., Ltd.”. According to the data, the actual controllers of Tianhua Institute and Sanming Shuanghuan Chemical Machinery are China National Chemical Corporation.