The hottest Yibin Paper Industry restarts to raise

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Yibin Paper restarted and raised 795million yuan to turn to life paper

release date: Source: Securities Times editor: Yu Jia Views: 2673 copyright and disclaimer

core tip: Yibin Paper, which once gave birth to China's first paper, decided to turn to life paper for benefits after years of production difficulties

[China Packaging News] Yibin Paper Industry, which once produced China's first paper, is determined to turn to household paper for benefits after years of production difficulties

in the evening of August 1, Yibin Paper announced that it planned to issue no more than 21.06 million shares and raise about 795 million yuan. Among them, 557million yuan is used for the overall relocation and technological transformation project with a total investment of 2.846 billion yuan, and no more than 238million yuan is used to supplement working capital

before the fixed increase, the state owned assets supervision and Administration Commission of Yibin City indirectly held 53.84% of the company's shares through Yibin state owned assets company and Wuliangye Group, which was the actual controller of the company. After the fixed increase, the indirect shareholding ratio of Yibin SASAC is 44.87%, and it is still the actual controller of the company

as an old paper mill, Yibin Paper industry has been shut down for several consecutive years due to the downturn of its main paper and cultural paper market. In August, 2011, based on the needs of Yibin urban construction and the development of the enterprise itself, the company moved to Peishi light industrial park, Nanxi District, Yibin City as a whole, and started the overall technical transformation project. The food bag was selected to realize the precision of the extruder, which can improve the gold content of the products. Paper and household paper replaced the original products

Yibin Paper said that the construction of household paper project was started in June 2017, and the construction period is expected to be 18 months. The infrastructure of the overall relocation and technological transformation project is constructed according to the production capacity of 350000 tons/year. Due to the small output scale of the production line that has been put into operation at present, the situation of "big horse pulling small car" is serious, the consumption of water, electricity and steam in the production process is large, and the production cost is difficult to control to the ideal level. After the construction of the household paper project is completed, the fixed cost of product allocation, which is a willing analysis from the control itself, will also be greatly reduced

as early as 2014, Yibin Paper had launched a fixed increase fund-raising project to invest in technological transformation, but it had twists and turns due to equity transfer

on May 28, 2014, the company announced that it planned to issue no more than 121million shares at a price of 9.15 yuan/share, and raise no more than 1.1 billion yuan for the investment and construction of the first phase of the overall relocation and technological transformation project of Yibin Paper Industry, the relocation and reconstruction of 102000 tons/year food packaging base paper production line and 100000 tons/year household paper production line

however, in the process of planning the fixed increase, the company happened to encounter the background of its speech when several media reported the major issues of equity transfer. On November 26th, 2015, Zhonghuan Guotou Holding Group Co., Ltd. (hereinafter referred to as "Zhonghuan Guotou") signed a share transfer agreement with Yibin state owned assets Co., Ltd., the largest shareholder of the company, and Wuliangye Group, the second largest shareholder of the company. It plans to receive 53.83% of the shares of Yibin Paper held by the two major shareholders, thereby becoming the controlling shareholder and actual controller of the company

on December 18 of that year, Yibin Paper announced that the proposed new controlling shareholder, Central International Investment Corporation, planned to use the supporting financing of major asset restructuring to invest in the originally planned project. Therefore, the company terminated the planning of this non-public offering of shares, and plans to plan major asset restructuring

I thought that I could use the new controlling shareholder to seek greater development, but I didn't want the equity transfer to fail to be implemented smoothly. On June 29, 2016, Yibin Paper announced the termination of the major asset restructuring previously planned. The announcement said that after the signing of the share transfer agreement, major changes have taken place in domestic securities regulatory policies. Based on the agreement, CIC transferred the state-owned equity of Yibin Paper Industry, and the restructuring plan to save Yibin Paper Industry proposed cannot continue to be fully implemented, so the equity transfer was terminated

the transformation of Yibin Paper Industry to connect power has been bumpy, and its performance is not optimistic

in November 2016, Yibin Paper withdrew the risk warning and ended the "wearing stars and hats" for more than eight years. The company's net profit of 3.18 million yuan in 2016 was still due to high financial subsidies. In addition, the company expects to achieve a net profit of about 120million yuan to 140million yuan in the first half of 2017, which is also due to the relocation compensation of 198million yuan for the old plant

in the face of the performance of losing money without subsidies, the chairman of Yibin Paper industry has publicly said that the company must complete the construction of household paper, otherwise it is difficult to get out of the production and operation dilemma

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