On February 9, Gansu Shangfeng Cement Co.Ltd(000672) announced that its wholly-owned subsidiary Zhejiang Shangfeng building materials Co., Ltd. participated in the subscription of Xinjiang Tianshan Cement Co.Ltd(000877) non-public offering shares with its own capital of about 300 million yuan. The offering price is 13.5 yuan / share. After the registration of additional issuance, Shangfeng building materials will hold Xinjiang Tianshan Cement Co.Ltd(000877) 0.26% shares, ranking the tenth largest shareholder. It is reported that Xinjiang Tianshan Cement Co.Ltd(000877) the total amount of funds raised this time reached 4.247 billion yuan. The allocated objects include industry leaders Anhui Conch Cement Company Limited(600585) , Jinyu Tangshan Jidong Cement Co.Ltd(000401) , well-known funds e fund, Harvest Fund and overseas well-known investment institutions JPMorgan Chase and UBS AG.
In recent years, driven by supply side reform measures such as restructuring and integration and elimination of backward production capacity, the industry concentration has been further improved, and the market order and efficiency have been continuously improved. Xinjiang Tianshan Cement Co.Ltd(000877) after the reorganization, its production capacity and business scale rank first in the industry, the industrial chain is more complete, and its main business and core competitive advantages are further highlighted; Gansu Shangfeng Cement Co.Ltd(000672) said that some subsidiaries of Xinjiang Tianshan Cement Co.Ltd(000877) have a good benchmarking and demonstration effect on the industry and the company in terms of high-quality development, and the optimization and improvement of the industry pattern is also conducive to enhancing the confidence in the development of the industry.
Exchanges and cooperation between cement and building materials enterprises have been strengthened in recent years. It is understood that Gansu Shangfeng Cement Co.Ltd(000672) has carried out multi-directional cooperation with companies under conch group in related fields such as new materials, equipment supply, “cement +”, overseas project cooperation, industry upgrading, development and technological innovation. Gansu Shangfeng Cement Co.Ltd(000672) and Anhui Conch Cement Company Limited(600585) also jointly participated in the China building materials new materials industry fund jointly initiated and established by the national mixed ownership restructuring fund, the national industrial transformation and upgrading fund and China building materials.
The company said that this participation in the subscription of Xinjiang Tianshan Cement Co.Ltd(000877) private placement is in line with the development strategy and investment planning of Gansu Shangfeng Cement Co.Ltd(000672) “one main and two wings”, which is conducive to optimizing asset allocation and demonstrating its confidence in the sustainable development of its main business; At the same time, it is also conducive to learn from benchmarking enterprises and further improve the comprehensive level of high-quality development, which is of great significance to the sustainable growth and development of the company’s main business.
