Xiamen Cinda released a fixed-increase plan on Monday night, and the company's shares will resume trading from the opening of the market on June 9.
According to the plan, the company plans to non-publicly issue no more than 75.1445 million shares to no more than 10 specific investors, including the indirect controlling shareholder Guomao Holdings, with an issuance price of no less than 17.3 yuan per share and raised funds of no more than 1.3 billion yuan, deducting the issuance fee. After use, 160 million yuan will be used for the Cinda IoT security technology service platform project; 640 million yuan will be used for the Cinda Optoelectronics LED packaging and application product expansion project; 110 million yuan will be used for the Cinda Optoelectronics LED display packaging product expansion project; 390 million yuan will be used to supplement working capital.
Xiamen Xinda stated that after the issuance is completed, Guomao Holdings will still be the company’s indirect controlling shareholder, and the company’s actual controller will still be Xiamen State-owned Assets Supervision and Administration Commission.
Xiamen Xinda said that in recent years, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, the National Development and Reform Commission and other relevant ministries and commissions have successively issued a series of policies to increase the promotion of LED applications, resulting in strong growth in demand for my country's LED application market. However, at the same time, there are many LED packaging companies in my country, and competition in the LED packaging market is fierce. Industry leading companies have continued to expand their business scale and enhance their competitiveness. Against this background, the company has adjusted its optoelectronic business development strategy. On the basis of continuing to expand the scale of its packaging business and continuously strengthening economies of scale, it will actively extend to downstream application areas and create a business pattern for the common development of packaging products, road lighting products, and indoor lighting products, promote the transformation and upgrading of the company's optoelectronic business, and continuously enhance the market competitiveness of its optoelectronic business.
Xiamen Xinda stated that it will raise funds through this non-public offering and focus on investing in the company’s electronic information business. Through the implementation of the Cinda Optoelectronics LED packaging and application product expansion project and the Cinda Optoelectronics LED display packaging product expansion project, we will further optimize the industrial chain layout of the company's LED business and increase the production capacity of the core product line, so as to quickly realize the transformation and upgrading of the company's LED industry and the extension of application fields; through the implementation of the Cinda IoT security technology service platform project, we will build a national security technology service network system, further innovate and improve the company's security business product line, expand the company's IoT business industrial layout, and create the core application areas of the IoT business.
ANNA