Changhai Shares Raise No More Than 800 Million To Consolidate Glass Fiber Main Industry To Promote Product Upgrading

In the evening of August 17th, Changhai shares disclosed plans for non-public offering stocks, mainly used for investment in environmental protection type glass fiber tank furnace drawing production line project, the original annual production capacity of 70000 tons E-CH glass fiber production line expansion project, annual output of 7200 tons continuous fiber reinforced thermoplastic composite production line project and 40 thousand tons / year unsaturated polyester resin production technical pformation project.

The company's stock is scheduled to resume trading in August 18th.

The company intends to include more than five specific investors, including Yang Pengwei, the largest shareholder of the company, and does not exceed 45 million shares in non-public offering, and does not raise over 800 million yuan.

According to the announcement, "the environmental protection type glass fiber tank furnace drawing production line project" is in the company's original stage pool kiln production line location, the use of existing plant and infrastructure construction of an annual output of 55 thousand tons of boron free fluoride tank production line; "the original annual output of 70000 tons E-CH glass fiber production line expansion project" is the company in the two phase 70 thousand tons of kiln production line, equipment pformation, increase 15 thousand tons of production capacity; "annual output 7200 tons continuous fiber reinforced thermoplasticity"

The production line project will produce an annual output of a total of about 7200 tons of continuous fiber reinforced thermoplastic composite products (6000 tons of LFT composite sheet, 1200 tons of LFT composite panels) (flame retardant); "40 thousand tons / year unsaturated polyester resin production technology pformation project" is the two phase of the 70 thousand ton / year unsaturated polyester resin production line.

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At present, China is the largest glass fiber producer and exporter in the world.

As the world's major economies are getting warmer, demand for fiberglass industry is picking up, product supply is tightening gradually, and glass fiber and fiberglass products prices have become the consensus of the industry. There is still room for further price rise in the future.

Changhai shares are the largest in China.

One of the comprehensive production enterprises mainly produces glass fiber products and glass fiber composite materials.

In recent years, according to the development of glass fiber industry at home and abroad, the company has formulated the development strategy of "upgrading technology on the basis of existing glass fiber products, achieving quality upgrading, optimizing products and gradually pforming to high-end products", and striving to build the company into a leading R & D platform for glass fiber composite materials.

The non-public offering will help to achieve the company's strategic planning, promote the upgrading of the company's product structure, and lay a good foundation for the long-term development of the company.