Shenzhen Textile Plans To Spend 900 Million Yuan To Make Large Polarizers

According to market rumors such as the company's breakthrough in the field of 3D glasses spin A (00045) Secretary of the Board of Directors said in an interview with reporters yesterday that the claim that the company's 3D glasses had passed customer certification was untrue. In order to consolidate its position in the domestic polarizer market, Shenzhen Textile plans to raise 900 million yuan in a private offering for the implementation of the polarizer project for TFT-LCD. The company's private placement has been approved by the CSRC but has not been officially approved. The private placement price is 8.31 yuan/share.

A few days ago, it was rumored that Shenzhen Textile has made a breakthrough in the field of 3D glasses. 3D glasses have passed customer certification and started to supply. The customer may be the largest 3D glasses manufacturer in the United States. At the same time, the company's TFT-LCD polarizer project may cooperate with a famous Japanese polarizer manufacturer, which will greatly enhance the technical feasibility, shorten the production date and accelerate the expansion. In addition, the company's private placement will be held in the near future, and the price may be 8.31 yuan.

deep spin Chao Jin, Secretary of the Board of Directors, said in an interview with reporters yesterday that the statement that 3D glasses had passed customer certification was untrue, and the company's customers were not the largest 3D glasses manufacturer in the United States, but domestic manufacturers such as Shentianma. As for the statement that TFT-LCD polarizer project may cooperate with a famous Japanese polarizer manufacturer, Chao Jin said that there is a confidentiality agreement, which is a trade secret. It is not convenient to disclose which partner is, but only a world famous manufacturer. The company did not mention the name of the partner in the previous announcement, and did not clarify various market guesses.

Chao Jin said that the company hoped that the TFT-LCD polarizer project would reach production ahead of schedule. At present, the company is also actively preparing, but the plant has not been built, and the equipment will arrive next year. The company's private placement has been approved by the CSRC, but the official approval document has not yet come down. The private placement price is 8.31 yuan/share.

Chao Jin said that 3D glasses became popular because of the 3D movie Avatar. Shenzhen Textile has been producing polarizers for 3D glasses for many years. But it has always been an auxiliary product of the company. At present, the company still focuses on textile business, and the polarizer project accounts for about 20% of the company's sales revenue, mainly producing polarizers for liquid crystal displays. 3D glasses are only a small part of the polarizer business, accounting for a very small share of the company's sales revenue.

Although 3D glasses account for a small proportion of the company's sales, Shenzhen Textile has set foot in this industry very early. Chao Jin introduced that the company's fund-raising project, which was listed in 1994, had a polarizer. After being developed in 1999, it filled the domestic gap, and the first polarizer production line was launched that year; The second production line was launched in 2004; The third production line was launched in 2008. The above three polarizer production lines are all small-sized polarizers.

It is understood that there are three well-known 3D glasses manufacturers in China. Among them, a 3D glasses manufacturer of an enterprise in Fujian Province is the largest, and its supply customer is the US 3D glasses manufacturer. While producing polarizers for liquid crystal displays, Shenzhen Textile also produces some 3D glasses polarizers, whose customers are mainly several enterprises in Guangdong Province.

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It is planned to invest 900 million yuan to expand the polarizer project. In order to consolidate the position of the domestic polarizer market and further enhance the core competitiveness of the company, Shenzhen Textile plans to issue no more than 110 million shares in private and raise 900 million yuan for the implementation of the polarizer project for TFT-LCD.

It is reported that the objects of this non-public offering of shares are no more than 10 specific objects, including Shenzhen Investment Holding Co., Ltd., the company's controlling shareholder. Among them, Shenzhen Investment Holding subscribed 350 million yuan and Shenzhen Super Technology subscribed 150 million yuan. The issue price shall not be lower than 90% of the average stock trading price 20 trading days before the pricing base date, that is, the issue price shall not be lower than 8.31 yuan/share.

Chao Jin said that this private placement is expected to raise no more than 900 million yuan, which will all be used for the "TFT-LCD polarizer phase I project". The TFT-LCD polarizer is a government investment project, which is the company's fourth polarizer production line, mainly producing large size polarizers. The production of supporting products with 52 inch or more LCD displays has high added value and technical content.

Chao Jin revealed that at present, the company's main business is still the textile industry, but the added value of the traditional textile industry is not high. The company is planning to expand the polarizer used for LCD. At present, the company's private placement plan has been approved by the CSRC, and it is expected that the official approval will be obtained in the middle of July to raise funds for the polarizer project supporting the large screen LCD. We hope to gradually realize the business transformation of the company by increasing the share of polarizers used for liquid crystal displays.

Zhang Zhimin of China Securities Investment believes that Shenzhen Textile is a listed company of Shenzhen SASAC. This time, the major shareholder plans to split a huge amount of money to participate in the directional issuance of upper polarizer project, which is expected to consolidate the company's position in the domestic polarizer market, and then gradually shift from the traditional textile industry to the high-tech industry, which is a substantial benefit for the transformation and long-term development of Shenzhen textile business. Recently, the stock price of Shenzhen Textile has shown a strong performance, and investors can pay due attention to it in the future.