YOUNGOR Issues 1 Billion 800 Million Yuan Short Fuse For Urgent "Blood Transfusion"

Investing in capital markets Youngor Recently, there seems to be some "financial difficulties" in terms of capital. China bond information network showed yesterday that YOUNGOR will issue 1 billion 800 million yuan RMB for one year in May 13th. Short term financing certificate The 1 billion 600 million yuan will be used to repay part of the bank loans, and the other 200 million yuan will be used to supplement the short-term liquidity of the company, ensure the company's turnover in the process of clothing, textile production and operation, and ensure the normal operation of production and operation.

"A drop in cash flow in the first quarter was mainly due to the company's payment of land works. The company's issuance of 1 billion 800 million short-term financing coupons has nothing to do with cash strain. It is a financial act to improve. financing Structure, reduce financial cost. The cost of issuing short-term financing bonds is lower than the one year loan interest rate, and the general interest rate is about 4%-5%. A staff member of YOUNGOR Securities Department replied.

In the first quarter, net cash flow was lost, but YOUNGOR still had a big investment in investment. YOUNGOR announced in the evening of May 9th that the company invested 500 million yuan with its own capital to set up a wholly owned subsidiary, Ningbo youth Investment Co., Ltd., which covers industrial investment and investment management. The investment accounted for 3.57% of the company's latest audited net assets. However, the announcement shows that YOUNGOR's 500 million yuan fund has been paid in full.

The one-time investment of 500 million yuan to set up youth investment company is enough to show that YOUNGOR is still confident in developing investment business. 2010 annual report shows that financial investment has become YOUNGOR's largest industry in 2010. Last year, YOUNGOR invested 5 billion 170 million yuan to participate in 12 private placement of listed companies. By the end of last year, all of them achieved floating profit and net profit of 1 billion 250 million yuan. By the end of last year, the company had accumulated a total of 13 billion 400 million yuan of marketable financial capital. In the first quarter of 2011, YOUNGOR's investment income was 540 million yuan, an increase of 707.74% over the same period last year, compared with a net profit of only 390 million yuan in the first quarter.