Guan Hao High-tech fixed to the East China Sea Island project

Our news Crown Hao High-tech (600433) today disclosed that the company has been concerned about the capital markets of the Non-public offering plan has been the fourth session of the Board of Directors to consider the adoption of the 20th meeting. Crown Hao High-tech The proposed non-public offering of not more than 120 million shares, the issue price is not less than 10.16 yuan/share. The company's controlling shareholder, China Paper, has signed a promise of no less than 20 million shares in cash subscription. The issue of fund-raising plans to invest in the East China Sea Island project, the company intends to create new special paper production line and coated paper processing production line, relocation company is located in four coating production line, vigorously develop the company's special paper field of carbonless paper and heat-sensitive papers business.　　Total project investment of about 1.541 billion yuan, of which the total amount of the issue of fund-raising does not exceed 1.3 billion yuan, after deducting the issuance costs of all investment in the above projects, the insufficient part of the company self-financing solution. Additional projects by the Board of Directors highly recognized the day of the board, reporters after the meeting of the company executive vice president, director and Secretary Wu Lidong learned that a number of motions have been voted by the unrelated directors unanimously passed.　　The company board of Directors Unified, unanimously on the project highly recognized, the controlling shareholder has signed a commitment to subscribe to not less than 20 million shares, there are many investors will actively participate in the issue of the inquiry purchase. It is understood that the project to give full play to the company in the domestic special paper production and manufacturing advantages, is committed to the development of special paper in the field of carbonless paper and heat-sensitive papers of the main business, at the same time through the new production line and new output of paper production capacity. Through large-scale production to achieve scale efficiency, reduce unit product cost and expense, so that the existing carbonless paper, heat-sensitive paper profitability enhancement at the same time, open up new markets, looking for new profit points, bigger and stronger company special paper plate.　　The project investment construction period is 3 years, after the project put into production, may add the output value 1.27 billion yuan, the financial internal rate of return 16.64%, the income tax before the static investment recovery period 8.14 years, the new profit total amount 170 million yuan. Wu Lidong told reporters that the East China Sea Island project implementation of the background is the company "three old" transformation, the company currently produces 130 acres of office production is located in Zhanjiang City Center business district, adjacent to five-star hotels, the plot as a commercial land location, but if the expansion of capacity is encountered bottlenecks, seize the Pearl River Delta "three old" (Old Town, Old village, It is imperative to replace the old workshop to relocate and expand the production. New project is located in Zhanjiang Donghai Island, here is Baosteel million tons of steel base and Sinopec Kuwait joint Venture integration project location, excellent logistics conditions. According to the announcement, the new project covers an area of 1100 acres, another 680 mu as the second phase of construction land.　　The company plans to relocate and new production lines, the final formation of special paper-making capacity of 125,000 tons, special paper coating capacity of about 160,000 tons, external sales of 178,000 tons. Acquisition of the Crown Dragon to complete the integration Operation Wu Lidong also said that at the beginning of the project, the company has not yet identified any specific financing options for the East China Sea Island project, as the company's balance-sheet rate has remained low, the third quarter of this year, less than 30%, there is a good credit rating and financing capacity, financing options are very large.　　However, the company's board of Directors finally agreed with the way of non-public offerings, aimed at achieving large and medium-sized shareholders, capital market parties win more than the situation. The company's acquisition of the big shareholder's Crown Dragon company 100% stake in the event has recently attracted investors attention, the Wu Lidong said, this is the holding shareholder in China paper in the implementation of commitments. It is worth mentioning that, the private issue, the major shareholder signed a commitment to subscribe to not less than 20 million shares, the fund is far higher than the Crown Dragon paper 100% stake in the listing price, fully embodies the sincerity of large shareholders. As the only one of the main industry for paper, the integration of controlling shareholder in paper plate is beneficial to improve the profitability of the company. At the same time, the injection of Crown Dragon paper has completely solved the problem of related transactions, and the company's industrial chain will be extended upstream as "pulp-paper-Special paper." After drastic reform, two companies in July this year have completed the adjustment of middle-level cadres, nearly 100 of the middle-level cadre team reduced to less than 50 people, August completed the integration of channel carding, enterprise integration operation is now basically completed.