Jinxi Axle announced on August 14, 2013 that the company has increased its total shareholder's 7 shareholders by 1.29 billion yuan to invest in the construction of its Maanshan Steel-Jinxi Axle Project. The project will be completed and put into production in 2013. .
According to the announcement, Jinxi Axle issued a total of 1.17 billion shares to 7 shareholders including Jinxi Industrial Group Co., Ltd., a major shareholder, for a total of RMB 1.29 billion. According to the plan, the raised funds will be used for the construction of Maanshan-Jinxi Axle Project, rail transit and high-end equipment manufacturing base construction project (phase 1), and will be supplemented with working capital.
Jinxi Axle said that after the completion of the fixed increase, the company's business scale will be further expanded and the existing business chain will be further improved. In the future, the industrial chain layout of the company's products will be optimized, and the market competitive advantage in key components of rail transit equipment will be consolidated.
It is understood that the Maanshan Steel-Jinxi Axle Project will build a production base with medium and high-end axles and supplemented by ordinary axles to form an annual production capacity of 70,000 sets of axles. After the project was completed and put into production, the normal annual operating income was 3.01 billion yuan, the normal total annual profit was 345 million yuan, and the net profit was 259 million yuan.
According to public information, the implementation of Maanshan-Jinxi Axle Project is Maanshan Masteel Jinxi Rail Transit Equipment Co., Ltd. The company was established on March 14 last year. Last year it realized a total operating income of 1.25 million yuan and a net profit of 18.72 million yuan. If the government subsidizes 25 million yuan, the company is still at a loss.
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