Fixed value added changed into convertible bonds,

Changing fixed value-added tax to convertible bonds, the refinancing of China heavy industry decreased by 3.4 billion

changing fixed value-added tax to convertible bonds, the refinancing of China heavy industry decreased by 3.4 billion

China Construction Machinery Information

Guide: the 10 billion yuan refinancing plan of China heavy industry (601989) has undergone great changes, and the company decided to terminate the previous non-public offering plan of 11.5 billion yuan and issue 8billion yuan convertible bonds instead, reducing the financing scale by 3.5 billion yuan. This is the second A-share company that changed its non-public offering to convertible bonds after Minsheng Bank during the year

the 10 billion yuan refinancing plan of China heavy industry (601989) has undergone great changes. The company decided to terminate the previous non-public offering plan of 11.5 billion yuan and issue 8billion yuan of convertible bonds instead, reducing the financing scale by 3.5 billion yuan. This is the second A-share company that changed its non-public offering to convertible bonds after Minsheng Bank in the year

according to the new plan, China heavy industry has cancelled the previous plan to raise funds to supplement the working capital of 3billion yuan, and has not changed the two plans of injecting 7 heavy industry companies under the controlling shareholder and investing 4.1 billion yuan to build the North China industry of offshore engineering

another power battery enterprise employee, who did not want to be named, revealed that he had "changed his face" in financing.

China heavy industry said that taking full account of factors such as economic environment and market changes, after careful analysis and full demonstration, the board of directors of the company plans to terminate the implementation of the company's 2011 non-public offering of shares, change the refinancing method to public issuance of convertible corporate bonds, and do not change the matters related to the acquisition of raised funds and investment projects

in April this year, China Heavy Industries issued a non-public offering plan, which plans to issue no more than 960million shares at a price of no less than RMB 11.96 per share, and plans to raise no more than RMB 11.5 billion. It mainly invests in the following projects: to acquire the equity of Wuchang Shipbuilding Industry Co., Ltd. and other seven companies held by the controlling shareholder China Shipbuilding Industry Group Corporation with RMB 3.6 billion, to invest no more than RMB 4.4 billion in offshore engineering equipment projects, and to supplement working capital of no more than RMB 3.45 billion

since the announcement of the non-public offering plan in April, the share price of China heavy industry has fallen all the way with the market, with the lowest falling to 9.41 yuan (resumption price). With the development of spring demand space in China in recent years being more than 20% lower than the additional issue price, the company closed at 11.2 yuan on November 10, still lower than the issue price of 11.96 Yuan due to the rebound of the market recently

according to the new financing plan of the company, the total amount of convertible bonds to be issued by the company this time will not exceed 8.05 billion yuan. The new plan has no change to the investment plan. It still uses RMB 3.6 billion to acquire the equity of Wuchang Shipbuilding Industry Co., Ltd. and other seven companies held by the controlling shareholder China Shipbuilding Industry Group Corporation, and invests no more than RMB 4.4 billion for offshore engineering equipment projects. However, it is noteworthy that the new convertible bond scheme has "cut" the supplementary working capital plan of 3.45 billion yuan

build the whole industry chain of marine engineering

according to the introduction, China Heavy Industries Co., Ltd. purchased 100% of the shares of Wuchang Shipbuilding Industry Co., Ltd., Henan Diesel Engine Industry Co., Ltd., Shanxi Pingyang Heavy Industry Machinery Co., Ltd., China Shipbuilding Industry Zhongnan Equipment Co., Ltd., yichangjiang gorge marine machinery Co., Ltd., Chongqing Hengshan Machinery Co., Ltd. held by China Shipbuilding Industry Group for 3.6 billion yuan, And 29.41% equity of China Shipbuilding Industry Shipbuilding Design and Research Center Co., Ltd

wanghexu, a researcher at Huabao securities, believes that the seven companies acquired this time have obvious characteristics of "central and western regions". These companies will benefit from national policies such as the western development and the rise of central China. In addition, due to geographical restrictions, these companies generally focus on special ships, ship supporting and non ship businesses. The acquisition will improve the industrial structure of listed companies and further smooth the cyclical risks of the shipbuilding industry, Improve the company's anti risk ability

wangtianyi, a researcher at Orient Securities, also pointed out that most of the company's projects this time are related to the marine industry, which will help to improve the company's marine industry layout and build the only domestic enterprise in the whole industrial chain of marine economy. During the 12th Five Year Plan period, the world offshore engineering equipment market is expected to reach US $100billion. With the strong support of the state, the international market share of China's offshore engineering enterprises will increase to 20%, and China heavy industries, as a leading enterprise in the offshore engineering field, will benefit first

us auxiliary equipment order market value in the fourth quarter of 2013 was US $101million