Adjust the production strategy, Xingyu shares change of investment projects

Yesterday (15) evening, Xingyu shares announcement, the company intends to change investment projects to raise funds, only involved in the implementation of site changes, did not change to raise funds use and implementation of the main implementation way. Jilin Changchun production base expansion project intends to change the Changzhou production base construction project (tentative name), the implementation of the subject Xingyu shares in Changzhou, the implementation of the new north; automotive electronics and lighting R & D center project site for the implementation of the original Changzhou City New District No. 182 Qinling Mountains Road, is intended to change the Changzhou new North Qinling Mountains Road West River Road south.

Announcements, Xingyu shares in August 2, 2016 non-public offering of RMB ordinary shares of 36505232 shares, the issue price per share of 41.09 yuan. The total funds raised 1499999982.88 yuan, net of issuance costs 22954000 yuan (including tax), the actual net proceeds of RMB 1477045982.88 yuan, the funds raised in August 8, 2016 all in place.

Xingyu shares said, Jilin Changchun production base expansion project planned locations in the Development Zone Changchun car economy technology, mainly to meet the customers demand and FAW FAW-Volkswagen Automobile Co after the market demand. At present, FAW FAW-Volkswagen Automobile Co production layout changes, the future will be part of the model for its supporting and new development projects from Changchun transferred to the East, southwest and other production base, the company also need to adjust the change of production strategic layout, increase the production capacity of the eastern China region planning, project implementation will be extended by Changchun transfer to Jiangsu city of Changzhou Province, so as to better meet customer needs and future market demand.

In addition, automotive electronics and lighting R & D center project planned at Changzhou New District No. 182 Qinling Mountains Road, the existing green plant area, covers an area of 3000 square meters, the space is more intense. In after the completion of the non-public offering, the company intends to bid for the factory is located at 182 Qinling Mountains Road on the north side of the site, the site covers an area of 23014 square meters, large area, good location, more suitable for the R & D center construction land.

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