Baose shares plan to increase capital to increase the main business

　　Sinochem News reported on June 22 that Baose Co.
, Ltd.
announced that the company plans to issue no more than 42.
5042 million shares to specific objects, and the total amount of funds raised will not exceed 720 million yuan
.
After deducting the issuance costs, it is planned to fully invest in the intelligent manufacturing project of high-end special materials and equipment, the construction project of engineering technology research institute, the quality and capacity expansion project of ship and marine engineering equipment manufacturing, as well as replenish working capital and repay debts
.

　　It is understood that the high-end special material equipment intelligent manufacturing project in this fundraising project plans to invest 346 million yuan, and the construction period is 1 year
.
After the project is completed and put into production, it will form a production scale of 21,000 tons/year of high-end large-scale special materials and non-standard equipment
.
Baose Co.
, Ltd.
said that after the completion of the project, the company's production capacity will be significantly improved, and the production capacity bottleneck caused by the expansion of market demand will be solved
.
Through the implementation of this project, the company will also focus on promoting the construction of smart factories, improve the company's intelligent manufacturing level, and cultivate new competitive advantages
.

　　Due to the characteristics of the industry, the collection cycle of Baose products is relatively long, while the procurement cycle of raw material standard parts is relatively short
.
Therefore, with the rapid growth of business scale, the company's daily operating capital requirements have gradually increased
.
To this end, part of the funds raised from this issuance will be used to replenish working capital and repay debts, so as to ease the pressure on working capital and optimize the asset structure
.