Jiuding assets reorganization to quicken the pace of wind power development

Recently, Jiuding (002201) announced the issuance of shares and cash purchase assets and major assets reorganization report (draft).　　After the completion of the reorganization of assets, Changzhou Tianma Group Co., Ltd. will become a wholly-owned subsidiary of Jiuding New Materials, Changzhou hua bi bao Special Materials Co., Ltd. will also become the jiuding new Timber holding 75% subsidiary.　　Jiuding new material said, the company in FRP products, wind power related fiberglass products have advantages, and Tianma group and Huabibao in the SMC, fine chemicals, plastic clothing resins and accessories, wall decoration walls, geogrid and other products enjoy a high market share, the two sides through business integration, can more effectively focus on the advantages, play the brand effect. Jiuding new materials are mainly engaged in the research and development of glass fiber deep-processing products, production and sales, the company's FRP products in recent years has been rapid development, so far has accounted for the company's main business income of more than 25%, FRP Products has become the company's future important areas of economic growth.　　The company independently developed high modulus reinforced glass fiber (HME) technology with wind turbine blades required higher performance, including strength, modulus and environmental adaptability. At present, the high power wind turbine blades are used to enhance glass fiber basic dependence on imports, domestic production rate is low. and Tianma Group for China at present the most varieties, product coverage of the most extensive FRP and upstream raw material base, as upstream raw and auxiliary materials products accounted for its main business income of more than 50%.　　One of the purposes of this transaction is also to achieve the jiuding new material technology and TIANMA Group annual output of 30,000 tons of alkali-free fiberglass pool kiln Drawing project docking, shorten the production time of Hme new products, in the market competition to gain advantages, accelerate the development of listed companies in the field of wind power. After the reorganization was completed, the main business of jiuding new material was greatly enhanced, and the upstream and downstream industries were expanded. Through the company test report can be seen, Tianma group assets injected jiuding New materials, the company's total assets from 904 million yuan to 1.893 billion yuan, increase 109.29%, net assets from 377 million yuan to 737 million yuan, increase 95.57%. The rapid expansion of total asset and net assets can help to enhance the position and influence of listed companies.