Zhejiang intends to raise 700 million yuan to invest in the direction of the sun to invest in three green lighting projects

Zhejiang sunshine (600261) today disclosed that the plan of non-public offering is not more than 60 million shares (60 million shares), fund-raising to invest three of green lighting project, the issue price of not less than 16.72 yuan / share, issued for not more than ten specific investors. The total investment of the project investment is 948 million yuan, the amount of funds raised is expected to not more than $700 million.

The equity investment projects mainly around the company's existing main business, from energy-saving lamps and LED lighting products in two directions. There are three specific projects: T2 environmental protection energy-saving lamps and MRT recycling system construction project; Xiamen sunshine Ennai lighting LED lighting products; efficient environmental protection energy-saving lamp industry projects. Three projects require funding of 120 million yuan, respectively, $419 million, $409 million.

Zhejiang sunshine, said the investment projects in line with the development of China's establishment of a conservation oriented society, with good market prospects. The equity investment projects in the internal rate of return of 23.55%-37.21%, with strong profitability. The company has strong technical advantages and good market base in the field of green lighting industry. Through the implementation of investment projects, the company will further optimize the product structure, enhance the core competitiveness and market share in the green lighting industry.

At the same time, Zhejiang sunshine released 2009 annual report shows that in 2009 the company achieved operating income of 1 billion 700 million yuan, plans to complete the target of 88.39%, down 7.81%; realize equity attributable to owners of the parent company net profit of 120 million yuan, beyond the planned target of 116.50%, an increase of 17.58%. Company to the end of 2009 the total share capital as the base, each of the shares of the cash dividend of $3 per share (including tax) (10).