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Pioneer New Materials intends to raise funds to build a composite material project

 Last Update: 2021-07-30
 Source: Internet
 Author: User

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Sinochem News.
com News on July 24, Ningbo Pioneer New Materials Co.
, Ltd.
disclosed a plan to issue stocks to specific targets, and plans to non-publicly issue A shares to no more than 35 specific investors
.

According to the issuance plan, the number of stocks to be issued this time will not exceed 142.

It is understood that the subject of the fundraising project is Jiaxing Fengtai New Materials Co.
, Ltd.
, a wholly-owned subsidiary of Pioneer New Materials, with a total investment of 461 million yuan and a construction period of 30 months
.

After the project is completed, it will have an annual output of 13 million m2 of continuous glass fiber reinforced polypropylene thermoplastic composite material (CGFRP) and 10 million m2 of continuous polyester fiber reinforced polypropylene thermoplastic composite material (CPFRP)

Pioneer New Materials stated that the implementation of the fundraising project will promote the company to explore new profit growth points in other market segments in the field of polymer composite materials, enhance the company’s profitability, enrich the company’s product categories and downstream application markets, and improve the company The ability to resist risks in business operations

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