Foton Motor Announces that it plans to issue no more than 160 specific shares to no more than 160 specific investors. The fundraising does not exceed RMB 2.5 billion. It invests in the construction of GTL heavy-duty trucks and the upgrading of key parts and components of heavy-duty trucks. project.
In this non-public offering of no more than 160 million shares, the company actually controls the People's Republic of China Management Center to subscribe for no more than 70 million shares in cash; the remaining shares are subscribed by other specific investors in cash, and the issue price is 17.76 yuan per share.
The funds raised will be invested in two projects: First, the technical transformation project for GTL heavy-duty trucks, with a construction period of two years. After the implementation of the project, the annual production capacity of 60,000 medium- and heavy-duty trucks such as GTL will be added. After the birth, it will realize an annual sales income of RMB 129,200,000, a total profit of RMB 762,700,000, and an after-tax profit of RMB 648,14 million; and second, it will be a construction project for upgrading the level of key parts and components of heavy-duty trucks and will remain after completion. The existing annual production capacity of 60,000 vehicles (60,000 medium- and heavy-duty trucks before and after the transformation), that is, 28,000 high-end heavy-duty trucks and 32,000 medium and heavy-duty trucks , And then complete the adjustment of product structure to achieve product technology upgrades, while improving market competitiveness. After the project is put into production, it will achieve an average annual sales income of 16,544,000 yuan and an annual average profit of 105,457.17 million yuan. The project investment recovery period is 6.12 years.
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