Yanghe shares spend 1.7 billion to build two major technical improvement projects

Yanghe shares (002304) decided to invest 1.73 billion yuan to build two major technical improvement projects. One for the famous Wine Brewing technical transformation Phase Ii. project. Project up to the postpartum, the annual increase of 20000 tons of high-quality basic wine production capacity. The total investment of the project is 1.106 billion yuan, of which the fixed assets investment is 1.027 billion yuan. The technical renovation project is implemented in some areas of the company's existing North plant area as well as in the new land area.　　All of the project to the postpartum year can add a net profit of 287 million yuan. The second is 100,000 tons of famous wine aging old ripe technical renovation project. The total investment of the project is 624 million yuan, of which the fixed assets investment is 594 million yuan.　　The project in Suqian Yanghe implementation, the project total construction area of 212,700 square meters, the project all up to the post-natal year can add more benefits 110 million yuan. In addition, Yanghe shares also intend to establish the Shanghai Financial Development Investment Fund (limited partnership) with its own capital of 300 million yuan to become a limited partner of the Fund. Data show that the Shanghai Financial Development Investment Fund is approved by the State Council, the National Development and Reform Commission to approve the domestic financial industry as the main investment in the field of equity investment funds. The State Council approved the total size of the fund is 20 billion yuan, the first target scale of 8 billion yuan. Gimpo Industrial Investment Fund Management Co., Ltd. is intended to act as the general Partner and fund manager of the above-mentioned fund. The fund is still in the preparatory phase.　　If the shareholders ' meeting approves the investment, Yanghe shares will sign the formal investment agreement with relevant parties in due course. After the two ditch wine industry 40.6% Equity, Yanghe shares today announced the appointment of Fengyun as Vice president of the company. Data show that Fengyun nearly five years Suqian economic and Trade Commission deputy director, double Ditch wine industry Vice Chairman and deputy general manager, general manager, deputy party secretary.