Xingyu shares (601799) issued a plan for the increase on the evening of November 13. The company plans to issue no more than 656.743 million shares to no more than 10 specific targets at no less than 22.84 yuan per share, raising funds totaling 1.5 billion yuan. It is used to invest in the construction of “Jilin Changchun Production Base Expansion Project†and “Automotive Electronics and Lighting R&D Centerâ€. The company's stock will resume trading on November 16.
According to the plan, the total investment of Jilin Changchun Production Base Expansion Project is 805 million yuan, and the proposed fund is 800 million yuan. The project construction scale is: annual output of 1 million sets of combined lamps and annual output of 1 million sets of front fog lamps. The project is located in Changchun Automobile Economic and Technological Development Zone, surrounded by major customers such as FAW-Volkswagen, FAW Fengyue and FAW Car. According to estimates, the normal annual operating income after the project is put into production is 530 million yuan, and the financial internal rate of return after project investment after tax is 12.86%. After the completion of the project, the company's production capacity distribution will be more reasonable, product transportation costs will be greatly reduced, and market competitiveness will be enhanced. In addition to providing vehicle lighting products for local vehicle manufacturers, the company also focuses on the “post market†of high-speed growth of automobiles. The “post-market†such as vehicle maintenance and spare parts replacement is also the main digesting channel for new production capacity.
In addition, the automotive electronics and lighting R&D center has a total investment of 711 million yuan and plans to invest 700 million yuan. The project plans to focus on strengthening the company's new products and new technologies. The main research and development directions include: lamp and lamp electronics, intelligent driving, In-vehicle wireless charging, head-up display, sensor technology and intelligent production line, etc., the project implementation period is expected to be 5 years, of which the construction period is 3 years. After the project is completed, it will be engaged in R&D of automotive electronics, sensor electronics, intelligent production lines, such as lamp and lamp electronics, body electronics, and intelligent driving, laying a solid foundation for the company's long-term sustainable development.
Xingyu shares said that the fixed-income project will help alleviate capacity bottlenecks, optimize production capacity layout, reduce product transportation costs, and enhance R&D strength to better meet customer needs and comply with the company's development strategy.
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