The approval of Feilu's convertible bonds will raise 177 million yuan in the water-based coatings market.

On April 3, Feilu shares announced that the company issued 177 million yuan convertible bonds through the CSRC Development and Audit Committee review, the company attaches great importance to the future prospects of the water-based paint market, ready to raise funds to invest in an annual output of 20,000 tons of water-based resins and high-end equipment water-based coatings two major projects.
, water-based coatings have several advantages over oil-based coatings, " said a company official. First, water-based coatings to water as a solvent, save the amount of construction work, reduce the risk of open fire accidents, more environmentally friendly "
file photo: Zhuzhou Feilu High-tech Materials Technology Co., Ltd.
convertible debt program shows that Feilu shares will raise 126 million yuan into the annual output of 20,000 tons of water-based resin new projects, 51.17 million yuan raised funds into high-end equipment water-based coatings new projects. The two projects are expected to invest a total of 321 million yuan, more than convertible bonds to raise funds will be the company's previously raised funds and the company's self-financing to solve. At the end of February, Feilu shares issued a results report, in 2019 the company achieved operating income of 492 million yuan, an increase of 28.36 percent year-on-year, to achieve a net profit of 21.05 million yuan, the company adopted the principle of high-quality parity to promote strategic objectives, market share has increased.
of water-based coatings in the rail transportation industry is on the rise, " said a company official. The landing of the two major projects will help the company continue to maintain its leading position in the field of anti-corrosion of rail transportation equipment and create new profitable growth points. "
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