Datang Telecom 470 million focus on 3G industry

Reporter Wu Fanglan 0 editor xiaobing Datang Telecom To change the issuance program.　　Disclosure of additional plans today revealed that the number of non-public offerings is not more than 31 million shares (including 31 million shares), the issue price is not less than 16.49 yuan/share, the specific issue price by the General Assembly authorized Board of Directors and the main underwriters to determine the amount of funds raised not more than 474.23 million yuan. The announcement shows that the funds proposed to invest in new 3G smart card research and development and industrialization projects, bank EMV card development and industrialization projects, TD-SCDMA Enterprise family information terminals and based on TD-SCDMA electronic reading Terminal product development and industrialization projects.　　The object of this issue is no more than 10 specific investors in accordance with the relevant provisions, the specific investors are all subscribed in cash. In fact, as early as last May, Datang Telecom had intended to add no more than 140 million shares to no more than 10 specific objects, including controlling shareholders, at a price of not less than 8.70 yuan/share, and raise no more than 1.2 billion yuan for the three projects and repayment of bank loans.　　However, last December, the company will raise funds to repay bank loans in the amount of money reduced to zero, and correspondingly lowered the size of the fund-raising, February this year, the company's controlling shareholder Telecommunications Science and Technology Institute withdrew the subscription.　　Datang Telecom said today that in view of the major changes in the Non-public offerings, the resolution of the Non-public offering will expire on June 2, 2010 and the Board of directors decided to change the non-public offerings. The plans disclosed today show that the three projects proposed to invest in the amount of funds are 96.01 million yuan, 191.72 million yuan, 186.5 million yuan. The three project construction period from 2009 to 2011, the construction period began in 2010 sales, 2012 project into the formal birth and achieve mass sales.　　The company expects three projects in the next 8 years, 10, 7 years (including construction period) to achieve annual sales income of 248.88 million yuan, 368.45 million yuan, 331.29 million yuan. Datang Telecom said that the three project will enhance the company's technology leadership in the field of smart card and market leading position, to achieve the company 3G industry layout, while improving the company's capital structure, enhance the overall strength of the company. After the release, the income of the products raised and the proportion of the total income of the company will increase.