320 million super raise funds to two project steel research Gourna yesterday strong trading

In most gem companies will be more than raise funds for home purchase, as the second echelon of the gem of the Steel Research Gourna (300034, closing price of 24.07 yuan) early on the listing on the eve of a clear super raise funds to invest, and yesterday (July 14) identified a specific investment plan. The company said that the fund will be more than 320 million to invest in two main projects, of which 153 million yuan into the casting high-temperature alloy high quality precision casting project, 167 million yuan into the vacuum horizontal continuous casting superalloy Mother alloy project. Industry analysts believe that the company as the domestic high temperature alloy in the field of relevant standards of the makers and the leading, high-temperature alloy materials occupy the market about 30% of the share, and the market share is steadily increasing, the next two years after the two projects into production, will become a new growth point of the company's performance.　　The company's share price was boosted by the news yesterday, becoming the sole trading company of the gem.　　Has long been clear over the fund to invest in steel research Gourna first 30 million shares, in accordance with the 19.53 yuan/share of the issue price calculation, deduction of the various issue fees, the actual fund-raising net amount of 550 million yuan, more than the original amount of funds required to raise the planned investment project of 320 million yuan. Unlike other companies, the steel research Gourna in the market has not yet been listed, it has been clear over the funding of the investment: one is the casting high-temperature alloy high quality precision castings expansion project; the other is the vacuum horizontal continuous casting superalloy mother alloy production line project. And the company promised that the extra funds will be stored in the management of special accounts, and for the company's main business.　　The company will be listed within six months after the listing, according to the company's development planning and actual production and operation needs, properly arranged over the use of funds, submitted to the Board for consideration and timely disclosure.　　Steel research Gourna insiders revealed that this is why this year's annual report most gem companies are in the high distribution, the company did not follow the important reasons. After a lapse of six months, the company's commitment is also duly honoured. The company intends to invest more than 153 million yuan to raise funds for casting high-temperature alloy high quality precision casting project. The project construction period is two years (excluding prophase work) and is scheduled to be completed by the end of 2012.　　The project reaches a period of three years, the first year of operation to reach the production capacity of 50%, the second year reached 80%, the third year up to 100%.　　The project is expected to be completed after childbirth, the normal years to achieve sales revenue of 116 million yuan, the realization of annual profit of 43.5964 million yuan, the realization of annual net profit of 37.057 million yuan, investment profit margin of 28.49%, net profit margin of 24.22%. In addition, the company intends to invest 167 million yuan in the vacuum horizontal continuous casting superalloy Mother alloy project. The total investment of the project is 239 million yuan. One of the construction investment of 180 million yuan, liquidity 58.456 million yuan, underfunded part by the company to solve the self-financing.　　The project construction period and the reach of the precision casting project are exactly the same. The project is built up to the postpartum, normal years to achieve sales revenue of 241 million yuan, achieve annual profit of 54.38 million yuan, achieve annual net profit of 46.22 million yuan, investment profit margin of 22.77%, net profit margin of 19.36%.　　Limited impact on short-term performance according to industry analysts, the two projects are expected to take three years to recover costs after they are put into production. Zhejiang Merchants Securities pointed out that the current steel research Gourna high-temperature alloy materials mainly used in aircraft engines, combustion chamber turbine disk and other high-temperature areas, occupy the market of about 30% of the market share.　　At present, the main competitor is Fushun Special steel, Baosteel special steel and aviation under the precision casting plant, aerospace industry is expected to continue to maintain a 20% annual compound growth rate, and the company's market share in this area is relatively stable.　　and steel research Gourna as the domestic high-temperature alloy field of relevant standards and leading, there is a strong use of product certification barriers, will become a stable growth of the company's performance factor. At the same time, some analysts pointed out that the investment projects to generate revenue in 2012, so the company's growth in recent years slightly inadequate, is expected in 2010, 2011, 2012, the company's operating income growth rate of 18.7%, 10.9%, 11%.