Western Shandong Chemical Directional Additional application is conditionally approved

NetEase Financial September 13, Lu XI chemical Monday issued a notice that the Commission issued on September 13 to the company to apply for the non-public issue of a share of the shares of the audit, the company's non-public offering of a shares of the application to obtain conditions. Luxi Chemical Industry Prior notice shows that the company intends to open the number of shares not more than 427 million shares (including 427 million shares), not less than 200 million shares (including 200 million shares), the issue price is not less than 5.00 yuan/share,　　The total amount of funds collected is not more than 2.135 billion yuan, after deducting the issue costs are all used for investment: (1) raw material route and power structure adjustment annual output of 300,000 tons of urea project, (2) 200,000 tons/year silicone project.　　Luxi chemical Industry, said that the issuance of fund-raising investment projects completed and put into production, the company's product structure will be a big change, the proportion of fertilizer products from the current 85% down to about 50%, and high value-added high-end chemical products will increase the proportion of large. According to the research report, the company has actively expanded the field of chemical fertilizer and sought development for future performance improvement.　　Currently in the construction of the DMF device, due to the excess capacity is expected to profitability is not very good, for the organic silicon monomer can be successfully opened also cautious view; But the new start-up device for the production of melamine is good, the new start of methane chloride device profit is very good, gross margin of more than 40%. China-created securities are expected, Luxi chemical 2010, 2011, 2012 EPS for 0.13 Yuan, 0.18 yuan and 0.25 yuan.　　Based on the company to the new area of development brings hope, give a recommendation rating. As of September 13, Luxi Chemical Co., 5.60 Yuan, Rose 4.09%.