Rutai Textile Reduces Electricity Supplier Investment &Nbsp; 140 Million Switch To Line

On October 9th, according to a notice disclosed by Lu Tai textile Limited by Share Ltd recently, Lu Tai textile Limited by Share Ltd reduced its planned capital input to its electricity supplier company "Lu Tai online", and changed the fund-raising funds to traditional projects.

In September 27th, the six sixteen board of directors of the Limited by Share Ltd of the Ru Tai textile company unanimously examined and adopted the motion on the company's purpose of altering the use of raised funds. The 140 million yuan of the remaining fund raised from the "marketing network construction project" was used for the construction of the "new 40 million meter high quality yarn dyed fabric production line" project, thus achieving the sales revenue of RMB 700 million yuan per year.

It is understood that the main reason why Lu Tai textile reduced its investment in online business is slow progress due to its slow implementation of the project, resulting in a long idle part of the collection fund, which has affected the efficiency of the fund-raising funds. "The main investment in the early stage is the opening shop fees, advertising costs, and the construction cost of the online sale of Lu Tai, which only accounts for 19.25% of the planned investment." The notice pointed out that in order to improve the efficiency of capital use and ensure the maximization of shareholders' interests, according to the relevant provisions on the management of the use of raised funds, it was decided to reduce the capital raised by the project by 140 million yuan.

It is reported that Lu Tai textile marketing network construction Original plan The investment is 200 million yuan. As of September 23, 2011, the project invested about thirty-eight million yuan in total, including about nine million yuan for opening shop, about twenty-three million yuan for brand advertising and more than 100 million 6 thousand yuan for balance.

At the same time, Lu Tai Spin The report also pointed out that although the reduction of input, but will not stop marketing network construction. The subsequent capital requirements of the project will be invested in the balance and interest of the raised capital and the company's own funds after the purpose of change.

The Limited by Share Ltd, founded in 1990, is a foreign-funded joint-stock enterprise, a A and B share listed company. It has cotton planting, spinning, dyeing and finishing. Weaving The textile enterprise group that integrates vertical production capacity, collates and makes garments, is the world's largest manufacturer of high-grade yarn dyed fabrics. Lu Tai online, founded in April 20, 2009, owns two brands of Hai Huang and Bai Jess, which mainly sell online sales of accessories such as shirts and neckties.