Tianyuan shares plan to raise 2 billion yuan

　　Sinochem New Network News on June 22, Tianyuan Co.
, Ltd.
announced that it plans to issue no more than 30% of the shares and raise no more than 2 billion yuan, which will be used for production projects with an annual output of 100,000 tons of lithium iron phosphate cathode materials.
The R&D testing center construction project and the repayment of bank loans, the investment in the three projects is 1.
28 billion yuan, 170 million yuan, and 550 million yuan respectively
.

　　Among them, the lithium iron phosphate production project is planned to be constructed in two phases
.
The first phase of the project will build 2 production lines with a total annual production capacity of 25,000 tons, and the construction period is 10 months; the second phase of the project will build 9 production lines with a total annual production capacity of 75,000 tons, with a construction period of 24 months
.

　　Tianyuan Co.
, Ltd.
said that the lithium iron phosphate project will make full use of the company's high-quality phosphate rock and iron resources to solve the stable upstream raw material supply source, fully exert high-efficiency synergy effects, and help reduce production costs and improve the profitability of the project
.

　　Another R&D testing center for fundraising projects will focus on R&D and innovation of core competitive products such as lithium iron phosphate, high-quality domestic chlorinated titanium dioxide products, PVC-O pipes and functional floor products
.

　　In addition, as of the end of the first quarter of this year, Tianyuan's asset-liability ratio was 62.
26%, which was a high level in the industry
.
As a result, part of the fundraising was used to repay bank loans
.