Golden Mantis Intends To Raise Private Placements 1 Billion 800 Million

23, the Suzhou Golden Mantis building decoration Limited by Share Ltd (002081.SZ, hereinafter referred to as Golden Mantis) announced that the company's board of directors has passed the bill of non-public offering, and the company's stock will resume trading on December 24, 2010.

The announcement said that the proposed private placement of no less than 62.06 yuan / share price will not exceed 29 million shares of A shares, and the total amount raised will not exceed 1 billion 800 million yuan.

It is mainly used for the following items: (1) construction projects of energy saving curtain wall and door and window production line; (2) factory production projects for building decoration wood products; (3) factory production projects for building decoration; (4) construction projects of Golden Mantis project construction management and operation center; (5) upgrading of marketing network; (6) acquisition of 40% stake in Reed company and capital increase project; (7) capital increase Mantis landscape company project; (8) capital increase Mantis house project.

The company said that this investment project belongs to the construction period in the short term and will not yield any benefits. With the implementation of the company's project, the business scale of the company in the energy-saving curtain wall, public decoration and home decoration field will be further expanded, and the profitability will be further improved.

Ping An Securities believes that after nearly two years of rapid growth, the Golden Mantis has established a good reputation and reputation as a leading enterprise in the decoration industry. At the same time, it has accumulated financial strength to support business expansion, and the industry concentration tends to increase.

The company will continue to grow at a high speed in the future.

Wang Xin, an analyst with Jinyuan securities, said that the hotel decoration business will maintain steady growth, while continuing to expand residential decoration and curtain wall business, and enter the landscape design and construction field.

The expansion of new business is expected to bring new growth points for the company.

Building decoration industry is an important industry in China's national economy. During the "11th Five-Year" period, the construction and decoration industry maintained a high growth rate. The total output value of the project increased from 1 trillion and 150 billion in 2005 to 2 trillion and 100 billion in 2010, with an annual increase of about 13%.

The report shows that the Golden Mantis realized operating income of 4 billion 250 million yuan in the first three quarters of 2010, an increase of 53% over the same period last year, achieving a net profit of 227 million yuan, an increase of 78% over the previous year, and 16.1% gross profit margin, a 0.1 percentage point increase over the previous period.