Kangqiang Electronics plans to raise more than 630 million yuan to build LED frame production line
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This non-public offering of shares is the first time in four years that Kang Qiang has been listed. The funds raised will be invested in the “30 million high-density integrated circuit frame (QFN) production line project†and “annual production of 5 billion planar array LED frame production linesâ€. Phase I) Project".
At present, Kang Kang Chairman Zheng Kangding has promised to subscribe no less than 5% of the number of non-public offerings, that is, no less than 2.85 million shares, Zheng Kangding will take no less than 31.6 million yuan to subscribe for shares.
According to the plan, the construction period of the two projects is two years. After the project is put into production, the estimated net profit will reach 150 million yuan. Among them, the "annual production of 5 billion planar array LED frame production line (Phase I) project" will provide a framework for LED display, backlight and lighting packaging and testing enterprises to reach the international advanced level. It is expected that after the project is put into production, the annual sales will be increased. The income is 350 million yuan and the net profit is 64.29 million yuan.
Kang Qiang Electronics pointed out that with the expansion of the company's production and operation scale, the increase in working capital loans and the increase in loan interest rates have led to an increase in financial expenses. It is expected that the net profit for the first half of 2011 will decrease by less than 30% year-on-year. Alleviate the pressure on the company's funds. 