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Northeast Pharmaceuticals Plans To Increase Fund-Raising 2 Billion 400 Million

2011/6/4 14:57:00 33

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Northeastern Pharmaceutical (000597) issued a 2 billion 430 million year plan to raise 150 million shares in private placement today. However, it did not announce the issuance price, but postponed the benchmark date to the provisional shareholders' meeting held in June 21st.

At present, there are 10 trading days from June 21st, the 10 trading days.

Price of stock

Will decide whether the Northeast Pharmaceutical issuance can be implemented.

Whether the issuance can be successfully delivered to the market is also an option for the Northeast Pharmaceutical Company. If the additional issuance does not exceed 150 million shares to 2 billion 430 million yuan, the additional price will be higher than 16.2 yuan / share, while Northeast Pharmaceutical's closing price is 16.09 yuan / share yesterday.

Most companies make the price fixing day on the basis of the announcement date, but northeastern pharmaceutical shares have plunged recently. The average price of the last 20 trading days is 18.263 yuan / share, and the average price of the paction is 90% yuan, which is 16.44 yuan / share. The Northeast Pharmaceutical company decided to set the first provisional shareholders meeting in 2011 as the price fixing base date, with the 90% price of the average price of the first 20 trading days. If the stock price rises in the next 10 days, it will bring hope for the success of the issuance.

Despite the cancellation of the private placement scheme proposed in 2010 in March, northeastern pharmaceuticals launched a new issuance quickly.

Fundraising

Plan, because the original factory area to cooperate with the Shenyang urban renewal project relocation, the company must raise funds for the remote place reconstruction.

In March 2010, Northeast Pharmaceutical launched a plan to raise 2 billion 958 million yuan to invest in the construction of raw material drug production line and other 7 projects, but it was affected by the decline in the price of VC API.

Northeastern pharmaceuticals reintroduced the new scheme, and the price of VC is still negative.

Factor

Northeast Pharmaceutical 2010 net profit fell 87.97% year-on-year, the first half of this year, the situation is still not improved, is expected to net profit in the first half of 5 million yuan to 15 million yuan, down 91.24%~97.08%.

Although there is a slight difference between the new scheme and the original plan of the Northeast Pharmaceutical industry, although the same plan is to increase 150 million shares, the amount of financing is 2 billion 430 million yuan, with a small decrease.

The fund-raising project has been adjusted from 7 to 6, but the largest investment project is still the construction project of VC raw material pformation. This is also the main business of Northeast Pharmaceutical Company. However, the investment amount of the project has declined compared with the previous one. The planned investment amount in 2010 is 1 billion 909 million yuan, and the investment of this project is 1 billion 815 million yuan.

The project will build a new VC API production workshop in the Xihe API production base.

The implementation of the project will reach 25 thousand tons of raw material and 76 thousand and 800 tons of sorbitol per year after the implementation of the project. The VC raw material does not increase production capacity, only upgrading the equipment. Sorbitol, as the main raw material of VC raw material, will increase its capacity from 45 thousand tons per year to 76 thousand and 800 tons, with an additional capacity of 31 thousand and 800 tons, all of which will be used for the production of VC raw material by VC.

The payback period of the project is 6.50 years (including construction period).

Other fund-raising projects include mycin series products, brain rehabilitation, L-carnitine products, berberine and intermediate pepper rings. Among them, the construction project of L-carnitine is 177 million yuan, and the investment recovery period is 5.65 years (including construction period). The main target market is still developed countries such as Europe, America, Japan, Japan and South Korea.

However, data show that the effect of L-carnitine as a weight-loss product is increasingly recognized by people. The product has been identified as a "safe and non-toxic" slimming product by the US FDA. Its annual demand in this field has been increasing year by year. In recent years, it has become a slimming health product in Europe and the United States. In the next 3 to 5 years, the global demand growth rate of L-carnitine will remain at 35%~40%.

Northeastern pharmaceutical announced at the same time, the company will use 788 million yuan self raised funds, in the Shenyang economic and Technological Development Zone Chemical Industrial Park for public works construction.