Chang Linzhu Shares: Issuance Of A Shares Does Not Exceed 70 Million Shares

On the evening of November 22nd, Chang Linzhu shares (600710.SH) announcement, the company intends to private placement A share No more than 70 million shares, the issuing price is not less than 10.46 yuan per share. Raise funds The total amount is not more than 520 million yuan.

The target investor is a total of no more than 10 investors, who subscribe to the non-public offering in cash. The subscription period is 12 months.

In the process of private placement, the company's controlling shareholder, China Fuma Machinery Group Co., Ltd. (hereinafter referred to as the Fuma group), the actual controller China National Machinery Industry Corporation (hereinafter referred to as the National Machinery Group) and its controlled enterprises are not involved in the subscription.

Before this issue, the company's controlling shareholder, Fuma group, held 170 million shares of the company, accounting for 35.72% of the total share capital of the company. According to the upper limit of the number of issued shares, the number of shares held by the Fuma group is no less than 31.22% after the issue, and is still the largest shareholder of the company.

The net proceeds of raising funds after deducting the issuance cost will not exceed 500 million yuan, and the fund-raising funds will be invested in the following 3 projects: 9 series of high performance loaders and high-grade spanmission parts industrialization projects, municipal special vehicle industrial base construction projects and overseas marketing platform construction projects.

The company expects that after the completion of the above projects, the annual sales revenue will be 1 billion 830 million yuan, and the total annual profit will be 120 million yuan.

The plan still needs approval from the board of directors, the SASAC, the general meeting of shareholders and the China Securities Regulatory Commission.

According to the company's three quarterly report, Chang Linzhu shares reached 1 billion 590 million yuan and 250 million yuan in the first three quarters of the year, respectively, representing an increase of 56% and 127% respectively.