(Reporter Cai Xiaoming) Chuangyuan Technology (000551) recently signed a "Capital Increase Agreement" with Suzhou Elevator Co., Ltd., a 95%-owned subsidiary of the company. According to the agreement, Chuangyuan Technology will be on Suzhou Far East Grinding Wheel. The company has invested 130 million yuan to implement the coated abrasive technology reform project.
According to the data, Far East Grinding Wheel is a subsidiary of Chuangyuan Technology, in which Chuangyuan Technology holds 75% and Suzhou Elevator Company holds 25%. In this capital increase, Chuangyuan Technology unilaterally increased the capital of the Far East Grinding Company by 130 million yuan in cash. The capital increase was all used for the coated abrasive technology reform project to be implemented by the Far East Grinding Wheel, and Suzhou Elevator Company unconditionally gave up the capital increase.
It is understood that the coated abrasive tool technical transformation project undertaken by the Far East Grinding Wheel will use the internationally advanced coated abrasive manufacturing line and process technology to produce high-end products in coated abrasives. The investment amount of the project is 130 million yuan and the construction period is 18 months. After the project is completed and put into production, it will be able to produce 10 million square meters of various coated abrasive products, including 5 million square meters of cloth-based products and 5 million square meters of paper-based products. According to the Feasibility Study Report of the Applied Abrasives Technical Transformation Project issued by the Far East Grinding Wheel, the project can realize an annual sales income of 269 million yuan and a total annual profit of 24.28 million yuan.
Chuangyuan Technology said that the implementation of the coated abrasive technology reform project must introduce professionals who are familiar with the technology development, production organization and equipment introduction of coated abrasive products, and also need to use the existing fixed abrasive products market network of Far East grinding wheel. Effective resources such as brands and brands will actively explore the market and will face fierce competition from well-known foreign coated abrasives. The various coated abrasive products produced by the project are mainly used in the processing of paint surface, stainless steel and billet surface processing, wood MDF surface processing and other industries, which can fill the blank of domestic high-grade coated abrasives, partially replace imported, and ease domestic The tension in the demand for high-grade coated abrasives. After the project is put into production, Chuangyuan Technology will become the largest leading enterprise in the production and sales of medium and high-grade coated abrasives in China.
Chuangyuan Technology closed at 3.59 yuan yesterday, up 1.41%. (Securities Times)
Chuangyuan Technology 130 million to create high-end coated abrasives
The construction period of the project is 18 months. After the project is completed, it will become the largest medium and high-grade coated abrasives production and sales enterprise in China.