Qifeng New Materials adjusted the fixed increase plan The construction of the project is progressing

Mondo Social Updated on 2024-01-30

On the evening of December 22, Qifeng New Materials (002521) announced that the previous fixed increase plan was adjusted, and the number of shares issued after the adjustment was no more than 62.4 million shares, and the amount of funds raised did not exceed 27.5 billion yuan, subscribed by the actual controller Li Xuefeng.

According to the fundraising prospectus issued by Qifeng New Materials in September, the number of shares to be issued by the company does not exceed 12.5 billion shares, raising no more than 54.9 billion yuan, of which Li Xuefeng and China Nuclear Titanium Dioxide each subscribed for 50% of the shares. The funds raised will be used for the expansion of the 200,000-ton specialty paper project (phase I).

After this adjustment, CNNC Titanium Dioxide will no longer participate in the issuance as a strategic investor determined by the board of directors. Qifeng New Materials said that according to the spirit of cooperation and regulatory requirements between the company and China Nuclear Titanium Dioxide, after careful research and discussion, it was decided to terminate the participation of China Nuclear Titanium Dioxide in subscribing to the issuance. On December 22, the parties entered into the "Termination Agreement of the Share Subscription Agreement with Conditional Effect".

It is worth noting that although CNNC titanium dioxide will no longer participate in this fixed increase, it will continue to strengthen cooperation with Qifeng New Materials. Qifeng New Materials said that the two sides will continue to optimize and strengthen the cooperative relationship, continue to carry out strategic cooperation, enhance the company's core competitiveness and innovation capabilities, and enhance the company's profitability.

In addition, the private placement project has not been affected. Qifeng New Materials said on the interactive platform a few days ago that the company's project construction is progressing smoothly and is expected to be completed and put into operation in the first half of next year.

It is understood that Qifeng New Materials is one of the few leading enterprises in the domestic decorative base paper industry that has mastered the core technology of high-grade decorative base paper, mainly engaged in the research and development, production and sales of high-grade decorative base paper. Decorative base paper is a kind of industrial special paper, which is widely used in medium and high-end building decoration and home decoration.

This fixed increase is an important move for Qifeng New Materials to increase the layout of the industrial chain. In recent years, with the continuous acceleration of urbanization, the construction of a large number of new urban residences and the transformation of old cities, the scale of the decorative base paper market has maintained a steady and rising development trend, and the industry has ushered in a good period of development opportunities.

According to the disclosure, after the annual output of 200,000 tons of special paper project is completed and fully produced, Qifeng New Materials will add 80,000 tons of decorative base paper production capacity, and the company's decorative base paper production capacity will reach 50400,000 tons. It is estimated that after the project is completed and fully put into production, the annual sales revenue will be 800 million yuan and the net profit will be 6354160,000 yuan, gross profit margin of 1838%, which is higher than the gross profit margin of the company's decorative base paper series products.

In recent years, Guangxi has concentrated on the furniture industry and related industrial chains, and many well-known enterprises such as Red Star Macalline, Sophia, Nature Home Furnishing, and Forest Industry Group have invested heavily to enter Guangxi, so the local area has a huge potential customer advantage and location advantage. It will also help Qifeng New Materials to connect with the Southeast Asian market, develop new customer resources, and enhance regional influence. In addition, the use of local cost advantages can effectively reduce the unit cost of the company's products and improve profitability.

Since the beginning of this year, Qifeng New Material's business situation has been improving, and its performance in the first three quarters has increased significantly, with a total revenue of about 271.3 billion yuan, a year-on-year increase of 1037%, net profit of about 15.7 billion yuan, a year-on-year increase of 413488%。A few days ago, the company also said on the interactive platform that the company is currently in a state of booming production and sales.

Related Pages