Elec-Tech set by a comeback, raising 2 billion investment flip LED

Last June, China had resorted to a 4 billion 500 million yuan fund-raising plan set by the proposed investment overweight LED flip chip and LED package in terms of capacity. However, due to abnormal fluctuations in the market led to a sharp decline in the share price, fixed price increase is still serious upside down. In desperation, the company on March 25th announced the withdrawal of the application.

Just after the company received a notice of termination of the review, April 14th announced the suspension planning major events. Yesterday evening, the company once again disclosed a non-public offering plan, the plan raised investment projects last year with the same increase, but the issue price and the scale of fund-raising is greatly reduced.

The plan, to be not less than 5.43 yuan / share price set by the fund-raising not more than 2 billion yuan, respectively, in the LED project and LED flip chip chip scale package project investment of 1 billion 500 million yuan and 500 million yuan, while the total investment of the two projects were 2 billion 500 million yuan and 1 billion 500 million yuan, of which the shortage of funds raised by to solve.

According to reports, the flip chip LED after the completion of the project will form an annual output of 5 billion flip chip production capacity, Elec-Tech is expected to put the annual sales income of 1 billion 955 million yuan to complete the project, a total profit of 423 million yuan; the LED chip package after the project is expected to achieve annual sales income of 2 billion 972 million yuan, total profit of 268 million yuan.

Elec-Tech said that this increase will help the company cut blue ocean industry market, and improve the matching of the industrial chain, supporting the front end of the MOCVD capacity.

Last June 15th, China intends to not less than 11.89 yuan / share issue price issue not more than 378 million shares, to raise funds not more than 4 billion 500 million yuan, respectively to invest 2 billion yuan and 1 billion 500 million yuan LED flip chip and chip scale package project LED project, and plans to invest 1 billion yuan for supplemental liquidity.

In March 25th this year, the stock market Elec-Tech changed greatly and the comprehensive consideration of capital market environment and the company's business development plan on the grounds, announced the withdrawal of the 2015 annual non-public offering application documents.

Reporters noted that the stock market of China has undergone great changes "may be related to the company's shares fell sharply, although the company set in December last year the revised case will increase in price dropped nearly 30% to 8.59 yuan / share, but then the company's share price continued to fall. Before formally announced the withdrawal of documents issued in March 25th Elec-Tech, its share price has dropped to 5.92 yuan / share.

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