Yinlun shares increase capital for commercial vehicle cooling modules, SCR converters and other projects
Recently, the non-public issuance plan for the domestic giant heavy-duty engine cooler leading silver wheel shares was released. The company plans to issue no more than 30 million shares for the construction of the three major projects. Among them, the construction of SCR products is the focus of the raised funds.
Yinlun shares announced recently that the company plans to issue no more than 30 million shares to more than 10 investors. The reserve price will not be lower than 90% of the average price of the company's stock 20 trading days before the benchmark date. It will invest in the production and construction of 60,000 sets of commercial vehicle cooling modules and 40,000 sets of construction machinery cooling modules annually, add 10,000 new sets of SCR systems annually, and produce 80,000 sets of SCR converters annually. Shandong production base construction projects are in line with the development trend of the industry.
From the perspective of the three projects to which the raised funds are intended to be invested, the establishment of a silver production base in Shandong Province is most noticeable. The project will be implemented by its wholly-owned subsidiary Shandong Yinlun Heat Exchange System Co., Ltd. The company plans to use the way it raises funds to raise funds. The project will form an annual output of 50,000 sets of auto post-processing EGR modules, 35,000 sets of SCR converters, 60,000 sets of cooling modules, and 100,000 sets of intercoolers. Heat exchanger 700,000 production capacity. After the production is completed, the project will bring a profit of 50.5 million yuan.
For the construction of SCR products, Yinlun shares is also a key investment in this scheduled increase program. In addition to building 35,000 SCR converters at its Shandong production base, the company plans to invest 109.5 million yuan to build an annual production capacity of 10,000 SCR systems and an annual output of 80,000 SCR converters. After the project is put into production, it will also bring 31.5 million yuan of profit income to the company.
CIC Securities believes that under the expectation of the gradual implementation of the National IV regulations, the mainstream post-processing technology SCR for the transition from heavy truck country III to the country IV will win large-scale promotion. The SCR products jointly developed by Silver Wheel and Tsinghua University for more than two years will be put into production and sales in 2011, and there will be more room for growth in the future. According to the market share of 5%, it is expected that the revenue will be 600 million yuan in 2012.
Yinlun said that the company's use of non-public issuance of proceeds to implement the SCR project will enable the company to continue to occupy the high point of domestic automobile exhaust after-treatment technologies. After the future emission standards are upgraded to Euro VI, the company will rely on the EGR and SCR business. The dual advantages in China continue to lead the industry.
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