Overweight vehicle lighting Xingyu shares set by raising 1 billion 500 million yuan

Xingyu shares (601799) November 13th evening release set by the plan, the company intends to not less than 22.84 yuan / share to no more than 10 specific non-public offering of not more than 65 million 674 thousand and 300 shares, the total funds raised 1 billion 500 million yuan, to be used for input in the construction of "Jilin Changchun production base expansion project" and "automotive electronics and lighting research center. Company's shares will resume trading on November 16th.

According to the program, which Jilin Changchun production base expansion project total investment of 805 million yuan, intends to invest to raise funds of $800 million, the scale of the project is: an annual output of 1 million sets of combined light and an annual output of 1 million sets of front fog lamps. The project is located in Changchun economic and Technological Development Zone, surrounded by FAW - Volkswagen, FAW, FAW car and other major customers. It is estimated that after the project was put into operation, the normal annual operating income was 530 million yuan, the project investment after tax financial internal rate of return of $12.86%. After the completion of the project, the company's production capacity distribution will be more reasonable, product transportation costs will be significantly reduced, the market competitiveness. In addition to the local vehicle manufacturers to provide vehicle lighting products, the company also focused on the rapid growth of the car after the market, car repair, replacement parts, such as the post market is also the main channel to digest new capacity.

In addition, automotive electronics and lighting R & D center a total investment of 711 million yuan, to raise funds to be invested 700 million yuan, the project intends to strengthen research and development of new products and new technologies, including the main research direction: lamp and lamp electronic, intelligent driving, vehicle wireless charging, head up display, sensor technology and intelligent production line, is expected to the project implementation period of 5 years, the construction period of 3 years. After the completion of the project, will be engaged in the lamp and lamp body electronics, electronics, automotive electronics and intelligent driving new product, sensor technology, intelligent production line and other aspects of the research work, lay a solid foundation for the company's long-term sustainable development.

Xingyu shares said, given the increase in the project will help ease the production bottlenecks, optimize production layout, reduce transportation costs, enhance R & D strength, in order to better meet customer needs, in line with the company's development strategy.

For more information about LED, please click on China LED network or pay attention to WeChat public account (cnledw2013).