Xun Xing Shares Intends To Issue Shares In Private

After a week's suspension, Fujian Xun Xing zipper Polytron Technologies Inc resumed last week. On the resumption of the day, it was announced that Xun Xing shares 2011 plans for the non-public offering of shares and related matters.

According to Xun Xing shares disclosed in the "2011 non public development bank stock plan" shows that the company plans to non-public offering shares total not more than 29 million shares (including 29 million shares), the total amount of funds is expected to not exceed 350 million yuan. Raise The funds will be invested in three major projects, such as extension of production line, marketing network construction, R & D center construction and so on.

At present, the relevant plans and reports of the company's non-public offering are subject to the approval or approval of the relevant examination and approval authorities.

　 No more than 29 million shares.

According to the China Hardware Association zipper Statistics show that in 2010, China's zipper enterprises achieved sales of 38 billion yuan, accounting for more than 50% of the annual zipper sales in the world. It is estimated that in the next few years, China's zipper industry sales can still maintain an annual growth rate of more than 10%. At the same time, in addition to textile clothing and bags, zippers have been widely used in outdoor products, sporting goods, and even in medical operations, aerospace and deep-sea oceans.

This series of data makes Xun Xing shares see the development prospects of the industry, and seize the industry development opportunities to become the root cause of the company's non-public offering.

It is reported that Xun Xing shares issued this issue. shares The type of listed Renminbi common stock (A shares) is issued in a six month period after approval by the CSRC. The target investors include securities investment fund management companies, securities companies, trust and investment companies, financial companies, insurance institutional investors, qualified foreign investors, and other investors who have laws and regulations stipulate that they can purchase Renminbi common shares (A shares), and all of them do not issue more than 10.

The number of non-public offering stocks is no more than 29 million shares (including 29 million shares). The issue price is no less than 90% of the average price of the company's stock transaction on the 20 trading days before the twenty-fourth announcement of the twenty-fourth session of the third board of directors of the company (July 12, 2011). No more than 350 million yuan will be raised, and no more than 331 million 730 thousand yuan will be deducted after deducting the issue cost.

　　 Will invest in three fields

According to the plan, the fund-raising funds will be invested in three fields. project The expansion and extension of the production line will be put into 262 million 232 thousand and 800, and the marketing network will be put into 40 million 888 thousand and 400. The construction of the R & D center will be put into 26 million 816 thousand and 800. If the fund can not meet the capital needs of the project, Xun Xing shares will use self financing to solve the shortage.

After the completion of the investment project of the non public development fund, Xun Xing shares will recast a medium and high grade zipper production base with advanced production level and scientific management level in Fujian.

The expansion and transformation of production lines, such as the drawing and distributing products, nylon zipper and so on, will further enhance the product quality and production regulation of the middle and high end zippers. The marketing network construction project will choose the clothing and bag industry centralization and the brand customer decision-making to construct the marketing network centrally, forming a unified platform, efficient process, covering the whole nation's marketing service network, providing better service and establishing brand image. The R & D center construction project will strengthen the industry standard status, strengthen the research and innovation ability of the new product and new technology, form new profit growth point, adapt to the development strategy of developing high value-added products to the zipper industry, and enhance the sustainable development ability. Specifically, the extension and expansion of the production line will be in the old and new industrial parks.

"The above strategies are conducive to actively improving the level of production automation, giving full play to the integration advantages of the industrial chain, implementing the strategic measures of product upgrading, customer upgrading and profit mode transformation, further enhancing the market share and profitability of the company, thereby enhancing the company's comprehensive competitiveness and laying the foundation for the growth of the world's top zipper enterprises." Xun Xing said.