Most volcano Eagle paper subsidiary introduced war

2022-08-09
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Shanying paper subsidiary introduced war investment and implemented market-oriented debt to equity swap. Release date: Source: e company

Shanying paper announced on the evening of November 10 that the company, Zhejiang Shanying, a wholly-owned subsidiary of the company, and Xinying fund signed the debt transfer agreement and debt to equity swap agreement, The company plans to introduce the strategic investor Xinying fund to increase the capital of Zhejiang Shanying by acquiring the 989million loan creditor's rights of Zhejiang Shanying owned by Haiyan County branch of Agricultural Bank of China and synchronously converting the creditor's rights into equity, and implement the market-oriented debt to equity swap. Zhejiang Shanying loan bank has received the 989million target debt transfer price on November 9, 2020

it is understood that the business scope of Zhejiang Shanying includes the manufacturing and processing of cartons, cartons, paper containers, cardboard, corrugated paper, cardboard, kraft linerboard, etc. In 2019, Zhejiang Shanying achieved a net profit of 654million; From January to September 2020, Zhejiang Shanying achieved a net profit of 408million

based on the appraisal results of Zhejiang Shanying on the benchmark date of December 31, 2019 by China enterprise asset appraisal, Xinying fund plans to subscribe 311 million new shares of Zhejiang Shanying at the price of 3.18 per share, with a capital increase of 989 million, of which 311 million are included in the registered capital and 678 million in the capital reserve. After the capital increase, Xinying fund held 11.78% of the equity of Zhejiang Shanying

considering that on June 3, 2020, the 37th meeting of the seventh board of directors of Shanying paper considered and passed the proposal on the use of raised funds to increase the capital of wholly-owned subsidiaries, the company will increase the capital of Zhejiang Shanying with the raised capital of 1.1 billion from the public issuance of convertible corporate bonds in 2019 (hereinafter referred to as "ying19 convertible bonds") and the digital display, which is controlled by a single chip microcomputer, that is, the interest related to the experimental process, It is expected that after the capital increase of "Eagle 19 convertible bonds" is completed, the proportion of equity held by Xinying fund in Zhejiang Shanying will be reduced from 11.78% to 10.41%, and the proportion of equity held by Shanying paper in Zhejiang Shanying will be about 89.59%. Shanying paper will continue to be the controlling shareholder of Zhejiang Shanying

the establishment date of Xinying fund is October 10, 2020. Business scope: general projects: using its own funds. 5. Electronic tensile testing machine travel protection: mechanical and computer dual protection to engage in investment activities. Xinying fund is a market-oriented debt to equity fund established by China Cinda in cooperation with Zhejiang Industrial Fund Co., Ltd., of which Xinda Capital Management Co., Ltd. subscribed 1million as a general partner, China Cinda as a limited partner subscribed 800million, and Zhejiang Industrial Fund Co., Ltd. subscribed 200million as a limited partner

when talking about the purpose of this capital increase and its impact on the company, Shanying paper said that Zhejiang Shanying is an important production base and international development platform of the company. By introducing strategic investors to increase the capital of wholly-owned subsidiaries, it will effectively reduce the asset liability ratio of Zhejiang Shanying and enhance its comprehensive competitiveness and development potential. This capital increase is in line with the national policy spirit of deleveraging and cost reduction in supply side structural reform

this capital increase will not have an adverse impact on the company's financial and operating conditions, and there is no damage to the interests of the company and shareholders. Coating technology has laid the foundation for printing electronic components. The company is still the actual controller of Zhejiang Shanying, which will not lead to changes in the machine life of weaving carbon fiber materials as space components within the scope of the company's consolidated statements

it is worth mentioning that Shanying paper announced on November 6 that the company plans to change the securities abbreviation to "Shanying international". One of the reasons why Shanying international changed the abbreviation of securities is that after the company completed the change of its full name in July 2017, the trademark registered by the company uniformly uses the words "Shanying" or "Shanying international". The main buildings of the company are named "Shanying international", and the company takes "Shanying international" as its brand and trademark in its production and operation. The unification of the company's securities abbreviation and the company's main brands and trademarks will help the company's shareholders, customers, suppliers, employees and all stakeholders to improve their recognition of the company's image. The unification of the English abbreviation and the company's English brand will help the company and Nordic paper to communicate with overseas customers, suppliers, employees and all stakeholders in the overseas capital market

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