The list of chain-store projects is bleak. Feida abandon 532 million yuan directional additional plan

-Our correspondent Chen Rong May 15, 000026,sz announced that because of the financial crisis, the two-tier market was depressed, the company's share price has been lower than the issue, the company decided to withdraw the application for non-public issues, and has been approved by the CSRC. The fifth session of the Board, which was held on June 2, 2008, decided that the company would not exceed 10 institutional investors and issue 30 million to 50 million shares in private.　　The non-public issue of the benchmark date for the Board of Directors meeting resolution notice Day, namely June 3, 2008, the issue price is the benchmark date of 20 trading days of the company's shares of 90% of the average, to raise capital of 532 million yuan. Data show that the closing price of the June 3, 2008 to 11.25 yuan/share, the previous 20th weighted average price of 11.78 yuan/share, its 90% is 10.60 yuan/share. However, from last June to date, the shares of Feida fell all the way down to a minimum of 3.68 yuan/share.　　As of May 14, 2009, the closing price of Feida is 8.22 yuan/share, and still below the reserve price of non-public offering. However, the industry in the interview with this reporter, said, flying to the surface because the issue of price issues to cancel the non-public offering, in fact, the company to raise funds to the project affected by the financial crisis is very large.　　Even if the funds can be raised as scheduled, it may not be profitable.　　Feida last year released the Non-public release plan shows that the company deducted the issue fee after you raise 532 million yuan, investment two projects: Han-GI table chain network new store expansion project, to invest 418 million yuan; Han-gi table chain network old shop renovation upgrade project, the proposed investment of 114 million yuan.　　As a result of the financial turmoil, the list industry has suffered a great impact, especially after the third quarter of 2008, when the consumer market fell markedly, and even Hong Kong famous sales and manufacturers were hit by the collapse.　　It also said in its 2008 annual report that the financial turmoil's subsequent impact on the real economy would continue, and that a full recovery could take 1-2 years or more, and that the global luxury industry remains fraught with uncertainty. As a result, feida even adjusts its development strategy to make it clear that "in addition to its strategically significant stores, the company will no longer be open in principle unless it is profitable or cash-flow-generating stores." This is why Feida canceled the non-public offering.