Australia Shunchang 910 million yuan set by the case approved, will further consolidate the main industry LED

Yesterday (2) evening, Australia Shunchang (hereinafter referred to as the "company") announced that the company non-public offering of A shares for the Chinese Securities Regulatory Commission issued the audit committee by.

According to the non-public offering plan Australia Shunchang released in August 2017, the company intends to number of non-public offering is not more than 150 million shares, the total funds raised not more than 910 million yuan, used for sapphire pattern industrialization project.

The implementation of the main patterned sapphire industrialization projects for the company a subsidiary of Jiangsu Australia Shunchang integrated circuit Limited by Share Ltd. The equity investment projects including crystal cutting, grinding, polishing and flat substrate graphical link link, the final product is the patterned sapphire substrate. The construction period is 24 months, and after the completion of the project, will form an annual output of 6 million pieces of patterned sapphire substrate (4 inch) production capacity, estimated annual sales income of 794 million 871 thousand and 800 yuan, after tax profit of 114 million 280 thousand and 500 yuan, after tax financial internal rate of return is 13.45%, investment recovery period is 5.30 years.

Australia Shunchang said that the completion of the non-public offering and investment projects to raise funds after the implementation of patterned sapphire substrate production capacity will be greatly improved, so as to open up the upstream link material, extending the LED industry chain, ensure the epitaxial growth of chip manufacturing and material supply, and enrich the corporate structure in the field of LED products, grasp the good opportunity the development of LED industry.

With the completion of the non-public offering and implementation of investment projects to raise funds, the company will have a stronger influence in the field of LED, the company's overall competitiveness and sustainable development capacity also will be enhanced, further enhancing the comprehensive strength.

According to Australia Shunchang December 12, 2017 disclosure of institutional research records show that the first half of 2017 net profit of LED business contribution over the metal logistics business for the first time, the company has become the largest source of net profit. By the end of 2017, LED chip monthly production capacity of about 1 million, while the first half of this year will continue to build new capacity, first of all to achieve the goal of 1 million 400 thousand / month expansion plan.

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