China-Huafu Industrial rights issue application approved by CSRC

NetEase Financial November 26 News in the Friday night Fu Industry announced that the company rights issue application by the China Securities Regulatory Commission approved. November 26, the China Securities Regulatory Commission issued an audit committee in 2010 the NO. 228 meeting of the review of the Zhongfu industrial rights issue application. According to the results of the audit, the Sino-Fu Industrial rights issue has been eligible for approval.　　China-FU Industry said the company will receive the CSRC approval documents after the announcement. Zhongfu industry announced earlier that the company intends to all shareholders 10 shares placing 3 shares, a total of 197,176,678 shares, fund-raising plan total 2,531,670,000 yuan.　　The company also said it would terminate its planned private offerings. According to the announcement, the allotment of funds will invest 674.65 million yuan to build "Henan Zhongfu Industrial Co., Ltd. high-precision aluminum strip Hot Rolling project", investment 678.66 million yuan construction "Henan Zhongfu Industrial Co., Ltd. Annual output of 130,000 tons high-precision aluminum strip cold rolling project", investment 678.36 million yuan construction Henan Zhongfu Industrial Co., Ltd. Annual output of 50,000 tons of high-performance special Aluminum Project ", as well as 500 million yuan to supplement the company liquidity and repayment of bank loans.　　The above raise capital plan equals 2,531,670,000 yuan. Zhongfu Industrial said that its electrolytic aluminum technology level in the industry-leading level, the advantages of aluminum integration outstanding, aluminum ingot capacity has reached economic scale, but the development of aluminum processing lags behind. The implementation of the fund-raising investment project will enable the company's industrial layout to further extend to the downstream, enhance the company's market adaptability, resistance to aluminum ingot price fluctuations brought about by the risk of achieving the company's strategic development goals.