Shareholder transfusion emergency: Xiamen China raise capital 1.1 billion

Just returned to the listing of three-month-old St Xiamen yesterday threw out a 1.1 billion-yuan fund-raising plan. St Xiamen issued a notice that the number of Non-public offering shares not more than 230 million shares (including 230 million shares), the issue price is not less than 4.88 yuan/share, the fund-raising is not expected to be more than 1.1 billion yuan.　　This non-public issue of the issue for the distribution of Hua Ying, including the establishment of a group of not more than 10 of specific objects. There are insiders told the south are reporters, additional plans for the situation of major shareholders and the company level of the idea is still consistent, now Xiamen China's debt ratio is higher, major shareholders also hope that Xiamen and China through the issue of the plight of the St.　　St Xiamen insiders also told reporters that the company has begun to practice the transformation of service-oriented model, as a new positioning, trying to come out a new road. Shareholders related to blood transfusion of nearly 400 million on the background of this issue, St Xiamen, said that the current company's assets and liabilities ratio seriously unreasonable, and lack of funds, urgent need to obtain more funds to ensure the company's sustainable development capacity. As of June 30, 2010, Xiamen-China electronic distribution of profits-2,336,190,600 yuan, owner's equity-943.1651 million yuan, asset-liability ratio of up to 141.14%.　　However, due to the serious unreasonable financial structure, it is difficult to finance through the bank loan, and the shortage of the operating capital of St Xiamen has become a major bottleneck of its survival and development at present. On the other hand, according to the reporter understand, St Xiamen has up to 2 billion of short-term borrowings and 300 million of long-term borrowings, although the current borrowings are mostly large shareholder guarantee loan and interest-free loans, but still to the company's operation brought enormous financial burden, its financial cost rate and the same industry listed companies, higher than 1%,　　If the financial burden is lifted, the company's profitability will rise dramatically. At this time the large shareholder's blood transfusion is particularly important. According to the plan, Hua Ying Power, the establishment of the group will be funded 297 million yuan and 100 million yuan subscription.　　Other distribution objects are securities investment fund management companies, securities companies, insurance institutional investors, trust companies, financial firms, qualified foreign institutional investors, other domestic legal investors and natural persons.　　According to the plan, the raise funds for the expansion of the capacity of technical renovation projects, Technology Center expansion project funds for 120 million yuan, 180 million yuan, for repayment of bank loans and supplementary liquidity of the part of the bulk, for 800 million yuan.　　On the issue of additional objects, Chunghwa picture tubes photoelectric and Xiamen-China electronic control of the actual per capita for the Chinese map tube, with related relations; The group is the second largest shareholder of Xiamen Overseas Chinese Electronics Corporation's controlling shareholder, also has a relationship. Cartrilli, an analyst at Yuan Securities, said the current situation indicated that the big shareholder and the company level thought are still the same. Xiamen, China's debt ratio is relatively high, major shareholders and Xiamen hope through the issue to make the company out of the plight of St.　　And through the issuance of shares, Xiamen and China can basically positive, as soon as possible take off St this hat. As of June 30, 2010, the Chinese film and Tube indirectly through the China mapNews holds St Xiamen 100121068 shares, accounting for the proportion of total equity is 27%.　　According to the announcement, in accordance with the ceiling of the number of non-public offerings, Chunghwa picture tubes video and Chunghwa picture Tubes photoelectric holdings of shares accounted for the total amount of equity is not less than 27%, the Chinese film is still the actual control of the company, will not lead to changes in the company's control rights. Transformation "Service-oriented manufacturing" St Xiamen, said, in the expansion of capacity-building technology projects, will invest 21.78 million yuan to the existing three production line transformation, after the completion of the project, a single shift per month to 70,000 units, can increase production capacity of 1.5 million units. Another will add three TV assembly production lines, three lines of annual new production capacity of 2.5 million units total. will also invest more than 40.69 million new SMT machine production line.　　In the Technical Center expansion project, will focus on LED backlight drive ultra-thin power supply and system chip, panel and whole machine integrated design scheme. Xiamen-China Electronics continued to lose money in 2007-2009, the Shanghai Stock Exchange was temporarily suspended and resumed listing on May 14 this year. According to the National Yuan Securities Research Report, Xiamen-China Electronics is currently the only in the domestic capital market by changing the main rather than the common asset restructuring way to restore the listed St-type listed companies. Xiamen-China is the largest color TV export enterprises, a few years ago, Xiamen and China began to increase the proportion of domestic sales, resulting in the loss of the company's main factors.　　At present, the Xiamen-China focus on efforts to increase export intensity, and in 2009. Xiamen-China Electronics insiders told reporters, Xiamen-China business to export-oriented, the proportion of domestic exports in about 2:8. Xiamen-China electronic model is the development of ODM business and brand marketing, and now gradually established the DMS business strategy to the "service-oriented manufacturing" transformation.　　ODM refers to a company based on the specifications of another company to design and produce a product, DMS refers to the integration of research and development design, manufacturing and services, to provide customers with a comprehensive system solution of the "service-oriented manufacturing" mode. Some securities analysts told reporters, Xiamen-China is a more special company, before its production, procurement, sales link is not very good, resulting in the present situation. At present, the company's production, procurement and sales have improved.　　DMS model compared to domestic brands such as Konka, business model to be better, the future trend of development should be good. The Xiamen-China electronics People told reporters that domestic appliance enterprises face the transformation pressure, Haier's transformation is to create, Xiamen will not give up manufacturing, this is a Chinese enterprise expertise. "Xiamen-China will increase the proportion of service business, such as Xiamen has a wealth of overseas market channels and operating experience, around this can provide customers with more service business, financial, intellectual property and so on have market space." ”