Longxing Chemical, a leading carbon black production company in China, intends to promote the main industry to be stronger through targeted private placement. The company today announced plans for private placement, and plans to issue no more than 45 million shares (including 45 million shares) to no more than 10 specific investors at a reserve price of 9.26 yuan/share. The company plans to raise 400 million yuan to plan for the year. Production of 140,000 tons of carbon black plant projects and exhaust gas comprehensive utilization projects.
In order to grasp the structural adjustment and industrial upgrading of the carbon black industry as soon as possible to provide development opportunities for large-scale carbon black enterprises, Huaxing Chemical plans to invest 350 million yuan in the raised funds into a carbon black installation project with an annual capacity of 140,000 tons. The total investment of the project is 454,905,500 yuan, including 3 35,000 tons/year rigid new process carbon black project and 1 35,000 tons/year soft new process carbon black project and corresponding supporting facilities, producing hard and soft rubber. Quality new process carbon black products. It is estimated that after the project is fully put into operation, it will add a new capacity of 105,000 tons of hard carbon black and 35,000 tons of soft carbon black, with an added annual sales income of 889.55 million yuan, and an annual new after-tax profit of 60,549,400 yuan.
It is reported that the project will be implemented by the company's holding subsidiary Jiaozuo Longxing Chemical Co., Ltd. (accounting for 60% of the company), with a focus on meeting the supply needs of Fengshen Tire, focusing on expanding the Shandong market and strengthening regional marketing efforts. The company will use this product. The second part raised funds to speed up the unilateral capital increase project.
Combining with the actual situation of the company, Huaxing Chemical intends to allocate additional capital of 50 million yuan for the comprehensive utilization of tail gas, using the carbon black tail gas produced in the company's production process as fuel, and generating about 130 tons of steam through an exhaust gas boiler, of which 40% of steam is supplied to Fengshen tires. , 10% for their own use, 50% for power generation, the power generated in addition to the company's own use, the rest of the transmission to the power grid. After the project is fully put into production, the annual sales revenue will increase by 64,375,700 yuan, and the newly added profit after tax will be 35,855,200 yuan.
Huaxing Chemical also disclosed three quarterly reports. In the third quarter, the company achieved a total operating income of RMB 592.56 million, an increase of 75.36% year-on-year; and a net profit of RMB 33.17 million, a year-on-year increase of 226.37%, and a basic earnings per share of RMB 0.1. The company expects to achieve a net profit of 108.76 million yuan to 123.26 million yuan this year, an increase of 50% to 70% compared with the same period of last year. The main reason is that with the completion of the company's first fundraising project in September, the carbon black production capacity will reach 300,000 tons. The installed capacity is 51MW. The company's current product sales are in good condition. Although the domestic gross sales margin for carbon black products is relatively low, the strong export growth has opened up a certain amount of space for the company's profit; from January to September, the subsidiary company, Shahe Longxing Fine Chemicals Co., Ltd. A net profit of 11.9172 million yuan is realized, and a net profit of 13 million yuan is expected for the whole year; government subsidies of more than 10 million yuan are included in the statement this year.
The company's latest closing price was 9.44 yuan.
In order to grasp the structural adjustment and industrial upgrading of the carbon black industry as soon as possible to provide development opportunities for large-scale carbon black enterprises, Huaxing Chemical plans to invest 350 million yuan in the raised funds into a carbon black installation project with an annual capacity of 140,000 tons. The total investment of the project is 454,905,500 yuan, including 3 35,000 tons/year rigid new process carbon black project and 1 35,000 tons/year soft new process carbon black project and corresponding supporting facilities, producing hard and soft rubber. Quality new process carbon black products. It is estimated that after the project is fully put into operation, it will add a new capacity of 105,000 tons of hard carbon black and 35,000 tons of soft carbon black, with an added annual sales income of 889.55 million yuan, and an annual new after-tax profit of 60,549,400 yuan.
It is reported that the project will be implemented by the company's holding subsidiary Jiaozuo Longxing Chemical Co., Ltd. (accounting for 60% of the company), with a focus on meeting the supply needs of Fengshen Tire, focusing on expanding the Shandong market and strengthening regional marketing efforts. The company will use this product. The second part raised funds to speed up the unilateral capital increase project.
Combining with the actual situation of the company, Huaxing Chemical intends to allocate additional capital of 50 million yuan for the comprehensive utilization of tail gas, using the carbon black tail gas produced in the company's production process as fuel, and generating about 130 tons of steam through an exhaust gas boiler, of which 40% of steam is supplied to Fengshen tires. , 10% for their own use, 50% for power generation, the power generated in addition to the company's own use, the rest of the transmission to the power grid. After the project is fully put into production, the annual sales revenue will increase by 64,375,700 yuan, and the newly added profit after tax will be 35,855,200 yuan.
Huaxing Chemical also disclosed three quarterly reports. In the third quarter, the company achieved a total operating income of RMB 592.56 million, an increase of 75.36% year-on-year; and a net profit of RMB 33.17 million, a year-on-year increase of 226.37%, and a basic earnings per share of RMB 0.1. The company expects to achieve a net profit of 108.76 million yuan to 123.26 million yuan this year, an increase of 50% to 70% compared with the same period of last year. The main reason is that with the completion of the company's first fundraising project in September, the carbon black production capacity will reach 300,000 tons. The installed capacity is 51MW. The company's current product sales are in good condition. Although the domestic gross sales margin for carbon black products is relatively low, the strong export growth has opened up a certain amount of space for the company's profit; from January to September, the subsidiary company, Shahe Longxing Fine Chemicals Co., Ltd. A net profit of 11.9172 million yuan is realized, and a net profit of 13 million yuan is expected for the whole year; government subsidies of more than 10 million yuan are included in the statement this year.
The company's latest closing price was 9.44 yuan.
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