Shangfeng Cement (stock code: 000672) announced the adjusted private placement plan on the evening of December 7. The target of additional issuance was the company's original shareholders and employee stock ownership platform, and the raised funds were invested in cement projects in "the Belt and Road" countries. The plan shows that the two cement projects in Uzbekistan and Tajikistan have good development expectations and profit returns, and the total profit of the two projects after putting into operation can exceed 800 million yuan, which will bring greater performance growth expectations for the company.
Compared with the announcement before the previous adjustment, the company's additional issuance price and the amount of funds raised were reduced year on year, and the way of issuance was changed from the original controlling shareholder's subscription of not less than 30% of the remaining inquiries to the issuance of all locked-in targets. In addition to the major shareholders, Tongling Nonferrous Holdings and Zhejiang Furun Holdings Group were added to the subscription targets, as well as partnerships established by employees of listed companies. The subscription of old shareholders and employees demonstrates their confidence in the company's investment projects.
Shangfeng Cement is a professional cement building materials enterprise in East China with nearly 40 years of development. At present, its clinker production capacity is 11 million tons and its cement production capacity is 9 million tons. It is one of the top 60 cement group enterprises supported by the national industrial structure adjustment and one of the most competitive cement building materials enterprises in East China. In 2014, the company's operating indicators such as per capita revenue and return on equity ranked in the forefront of listed companies in the industry. At present, the company's strategic focus is on the regional layout of "the Belt and Road". Last year, the company invested in the construction of the largest cement production line in Kyrgyzstan. This year, it acquired Xinjiang Zhongbo Cement near Alashankou Port in northern Xinjiang, forming a new strategic building materials base in the core hub area of the New Eurasian Continental Bridge, and echoing the Kyrgyzstan base.
The funds raised by the private placement of Shangfeng Cement will be invested in Central Asia again. The Andijan project in Uzbekistan is located in the Fergana Basin, one of the most economically developed regions in Central Asia. More than 15 million people from Uzbekistan, Tajikistan and Kyrgyzstan are gathered in the rich basin centered on Andijan, which is also the core area of Asia-Europe economic and trade exchanges along the ancient Silk Road; Another project, Tajikistan, is located in Kurgan-Tyube, the third largest city in the south of the country. The market covers the southern and central parts of Tajikistan, and can also enter the southern Uzbek market westward.
Another new strategic main line of Shangfeng Cement after years of accumulation and development along the Yangtze River Economic Zone has opened up a new space for the company's development. The extremely rich professional management experience will be further brought into full play, and the cement price of more than $100 per ton in Central Asian countries and the cement building materials market in short supply will also become the basis for the rapid growth of the company's performance.
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