Mingxin Automotive Leather Co.Ltd(605068) on January 12, it was announced that in combination with the company’s financial situation and investment plan, the total amount of funds raised by the proposed issuance of convertible corporate bonds was adjusted from no more than RMB 680 million to no more than RMB 673 million.
The term of convertible corporate bonds issued this time is 6 years from the date of issuance; After deducting the issuance expenses, the raised funds will be used for the investment in the following projects: the intelligent manufacturing project of all water-based Dingdao super fiber new materials with an annual output of 8 million square meters of Mingxin Menorca (Jiangsu) new materials Co., Ltd., with an estimated investment of 480 million yuan; The supplementary working capital project is expected to invest 193 million yuan.
It is estimated that after the project is completed, the gross profit margin is 36.63%. The project is implemented in the leased land and plant of Xinyi Economic Development Zone, Jiangsu Province. The project has been put on record in the Economic Development Bureau of Xinyi Economic Development Zone, Jiangsu Province.
The announcement said that the all water-based Dingdao super fiber new material intelligent manufacturing project complies with the national policy guidance and industrial planning. The super fiber products of the project belong to the key strategic materials among the key new materials and meet the enterprise conditions for applying for the premium subsidy fund of the central government; In addition, according to the professional committee of artificial leather and synthetic leather of China Plastics Processing Industry Association, the output value of China’s super fiber leather is about 160 million meters at present, and the growth momentum is maintained. It is expected that there will be about three times the development space of super fiber leather in the future. All water-based fixed Island microfiber is beyond China’s Benzene reduction fixed Island microfiber and solvent-based benzene reduction fixed Island microfiber. It represents the development direction of microfiber synthetic leather in the world and the highest research level of microfiber leather in the world.
Mingxin Automotive Leather Co.Ltd(605068) is a national high-tech enterprise and an innovative enterprise in Zhejiang Province. It has provincial high-tech R & D center, academician and expert workstation, Mingxin leather European Innovation Center and other R & D platforms at home and abroad. It has been able to timely and accurately meet the requirements of the R & D and design departments of vehicle manufacturers at home and abroad, and develop new products synchronously with the R & D headquarters of vehicle manufacturers, The project will help the construction of the project based on the technical strength of the parent company Mingxin Automotive Leather Co.Ltd(605068) .
