Rong Sheng Petrochemical 1.291 billion yuan super raise gold investment two major projects

At the beginning of this month, Rong Sheng Petrochemical (002493, closing price of 62.70 yuan) in the listing 22nd, then threw out the fund use plan, to use 796 million yuan super raise funds to implement Superfine denier fdy and superfine denier differential dty silk Technical renovation project, The new chemical fiber project of polyethylene terephthalate (PTT) was implemented using 495 million yuan super raise funds.　　Industry insiders believe that the company's investment in the two projects is the further expansion of chemical fiber business, the project will bring a significant increase in the performance of the company, is expected to further share the industry boom opportunities brought about by the rise.　　Yesterday (November 23) evening, Rong Sheng Petrochemical Bulletin said, the company will be through to the wholly-owned subsidiary of the chemical fiber to provide loans, from the Sheng Yuan chemical fiber specific implementation of the above two funds investment projects. Among them, superfine denier fdy filament and superfine denier differential dty silk Technical renovation project Total investment of 796 million yuan, the project is to introduce a number of equipment to form an annual output of 100,000 tons of ultra-fine denier fdy and 30,000 tons of superfine denier differential dty silk production capacity. The project is to be completed in two years, the third year of operation, the production load reached the design capacity of 70%, the fourth year reached 100%.　　Project up to the postpartum, is expected to achieve annual sales revenue of 2.18 billion yuan, the total profit of 326 million yuan, after the after-tax profit of 244 million yuan. Data show that China's 2000 ~2009 of chemical fiber differentiation rate from 22% to 43%, of which polyester filament differential rate from 23% to about 50%.　　FDY filament and dty silk are multifunctional and high-performance fibers with good simulation effect in polyester, and the market space is larger. PTT New chemical Fiber project is the company's first attempt in PTT, the company intends to invest 495 million yuan, up to the postpartum will form an annual output of 90,000 tons of PTT fiber production capacity.　　According to the feasibility analysis, the project reaches the annual sales income of 2.348 billion yuan, the normal production year total profit of 219 million yuan, static investment recovery period of 4.1 years, sales profit margin of 9.33%.　　It is reported that PTT is the latest international development of one of the hot polymer materials, can be widely used in cloth, industry, decoration and engineering plastics and other fields, with the chemical fiber industry boom, PTT materials or more widely used. Analysts believe that the substitution of chemical fiber polyester to cotton will promote polyester industry chain boom, and chemical fiber industry in the first 8 months of this year has resumed to 31.7% growth, the overall industry prospects strengthened. Rong Sheng Petrochemical mainly engaged in PTA, polyester, polyester filament production and marketing, now increase in chemical fiber new materials input, is expected to further benefit the industry boom. The two projects are expected to contribute to the company's total profit of 545 million yuan, accounting for the company's 2009 total profit of 44%, to ensure the steady growth of the company's performance.