Central South Heavy Industry 900 million investment to build high-end equipment manufacturing base to expand the market position

Central South Heavy Industry 900 million investment to build high-end equipment manufacturing base to expand the market position

Central South Heavy Industry 900 million investment to build high-end equipment manufacturing base to expand the market position
To further enhance the production capacity, Central South Heavy (002 445) plans to invest approximately $ 900 million to build high-end equipment manufacturing base. Project an annual production capacity of 25,000 tons of pressure vessels, 50,000 tons forging flange,hydraulics valves. with a total investment of 934 million yuan. The company invested its own funds initial capital of 200 million yuan, more than 400 million yuan loan to the bank for the rest of the liquidity produced by the project need to raise to take years invested. Ren Qiaocun of the
The project is located in Jiangyin City, east of the city street, planning 146,650 square meters of land, about 220 acres, the company has purchased 175 acres of land, production scale: annual output of 25,000 tons of pressure vessels,aluminum patio. 50,000 tons forging method Lan. The project construction period is four years. Press the stainless steel flange according to the present price of 50,000 yuan / ton to 15,000 yuan / ton of carbon steel flanges, pressure vessels, 20,000 yuan / ton, the projects are all put into the expected new sales revenue of approximately 2.3 billion yuan, according to The company currently estimates gross profit margin, net profit after tax of about 211 million yuan, about six years after tax (including construction period of 4 years) to recover the total investment.
Company said that the project goes into operation, will expand the company pressure vessel market position, further enhance the companys orders ability. The projects are all put into production, sales revenue is expected to add more than 2.3 billion yuan, net profit of 211 million yuan or more, a significant increase in corporate profits, as well as downstream market influence.
To announce a major investment projects, Central South Heavy inevitably be the reduction of fate, the company also announced that the TOE TEOW HENG second largest shareholder of Shenzhen Stock Exchange trading system in the period from May 16 to June 4 cumulative reduction of tradable shares of the total 12.6 million shares through block trades, accounting for 5% of the total share capital of the company.
Before the reduction, TOE TEOW HENG shares held 3455 shares, representing 13.70% of the companys total share capital. After the reduction, the shareholders still holding 8.71% of the total share capital of the company, still the second largest shareholder.
Central South Heavy announcement at the same time, be registered issue size of not more than 360 million yuan of short-term financing bills, short-term financing bonds to raise funds to complement the companys production and management of liquidity.


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