Guangdong Modern High-Tech Fiber Co.Ltd(300876) (300876) announced on January 25 that the company plans to issue convertible corporate bonds of no more than 300 million yuan, and the raised funds will be used for the technical transformation project of 10000 tons of expanded continuous filament (BCF) and 5000 tons of fine denier textured filament (DTY), supplement working capital and repay bank loans.
The announcement disclosed that the company has always focused on the polypropylene fiber industry, deeply understood the performance characteristics of polypropylene and the difficulties of spinning process, and mastered a series of polypropylene fiber core technologies with independent intellectual property rights. At the same time, the company has followed up the polypropylene fiber market for many years and has a deep understanding of the demand characteristics of downstream customers and different application fields, And accumulated a large number of polypropylene fiber customer resources.
Guangdong Modern High-Tech Fiber Co.Ltd(300876) said that the implementation of the project will greatly improve the production capacity of the company’s polypropylene expanded continuous filament BCF and fine denier textured filament DTY. Combined with the expansion of FDY in the ongoing “23000 ton polypropylene fiber expansion project”, it will realize the multi product and multi process business layout of the company’s polypropylene filament from FDY, DTY to BCF and optimize the company’s product structure, Expand the business scale of the company. At the same time, downstream customers usually need a variety of polypropylene filaments as raw materials in the textile process, and the project construction will help to meet customers’ one-stop procurement needs. Therefore, the implementation of the project will help the company make full use of its technical advantages and customer resources in the field of polypropylene filament for many years, create new profit growth points and realize the coordinated development of multi category polypropylene filament business.
