Shenzhen Textile Non-Public Offering Of A Shares Program Formally Approved

< p > Shenzhen textile announced yesterday that the company's non-public offering of A shares less than a href= "//www.sjfzxm.com/news/index_cj.asp" > stock < /a > has been approved by the China Securities Regulatory Commission on January 7, 2013, approved by Shenzhen a href= "//www.sjfzxm.com/news/index_c.asp" > textile > /a > non-public offering does not exceed 170 million new shares. The reply is valid for 6 months from the date of issuance.

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< p > in recent years, China has gradually entered the investment peak of large-size TFT-LCD panels.

In 2009 alone, there were as many as 7 panel production lines for investment or investment.

Enterprises involved in investment include BOE, Huaxing optoelectronics, Samsung and other well-known Chinese and foreign enterprises.

According to Displayserch forecast, the global share of TFT-LCD industry in mainland China will increase to 27.3% in 2012. Mainland China will become the third largest flat panel display production area in the world.

With the rapid development and expansion of China's panel and terminal products, the upstream materials supporting industries such as Polaroid will usher in explosive growth opportunities.

However, due to the high technology threshold and strong profitability, the key technologies of Polaroid industry and the < a href= "//www.sjfzxm.com/news/index_s.asp" > market < /a > are basically in the hands of a few foreign enterprises, such as sun Dong electrician, LG chemistry and Sumitomo chemistry.

At present, there are only two TFT-LCD production lines with wide polarizer in China, which is far from meeting the needs of rapid development and expansion of domestic panel plants.

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< p > it is learnt that the deep textile non-public offering proceeds will be used exclusively for the two phase project of TFT-LCD polarizer in Shenzhen Shengbo Photoelectric Technology Co., Ltd., a wholly owned subsidiary of the company.

When the project is completed, the production capacity of polarizer will be increased by 12 million 800 thousand / year, including: Line 6 (width 1490 mm), new production capacity of 6 million 400 thousand / year, line 7 (width 1490 mm), new production capacity of 6 million 400 thousand / year. After the project reaches production, the annual average sales income will reach 2 billion 681 million yuan, with an average annual profit tax of 378 million yuan, with an average annual net profit of 205 million yuan.

The project will bring huge economic benefits to the company.

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< p > industry insiders pointed out that the Shenzhen textile non-public offering and investment project is in line with the requirements of the pformation and upgrading of the national strategic emerging industries.

Once the two phase project is completed and put into operation, it will get rid of the excessive dependence on imports in the Polaroid industry. It will help to realize the localization of polarized light industry and enhance the competitiveness of domestic enterprises.

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< p > deep textile said that with the support of the Shenzhen municipal government and the SASAC and the parent company, with the support of the capital market financing platform, we should take advantage of the "industry + capital" and "technology + finance" mode, and take the most crucial step in the pformation and upgrading of the company. While making efforts to do a good job in the non-public offering, we should shorten the climbing time of the two projects as much as possible, reduce the cost of climbing, and enable the company to enter the fast lane smoothly.

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