On July 8th, Nanning Sugar, which temporarily suspended the preparation of a major restructuring, issued a private placement plan today, and plans to raise funds to not exceed RMB 506 million for the construction of three projects.
According to the Nanning Sugar Industry Announcement, the company plans to issue no more than 32 million shares in non-public offering at the issue price of 16.05 yuan per share, and the amount of funds raised shall not exceed 506 million yuan for the "high-yield modernized agricultural demonstration base for sugar cane construction projects." The project of "Kaiwang Paper's Annual Output of 300 Million Sugarcane Bagasse Environmentally Friendly Molded Products Technical Transformation Project" and "Sugar Industry and Industrial Chain Low-Carbon Energy-Saving and Emission Reduction Technical Transformation Project" were constructed.
Nanning Sugar Industry Co., Ltd. stated that after the completion of the “High-yielding Modernized Agricultural Demonstration Base for Sugarcane Production†project, one of the fund-raising projects, the company will establish a 200,000-mu demonstration base for high-yield sugarcane, which will increase production efficiency and protect the supply of raw materials; After the completion of the paper-type 300 million sugar-cane bagasse environmental protection molded product technical transformation project, the company has further expanded the breadth and depth of the circular economy and enhanced the overall profitability; “The sugar industry and the industrial chain of low-carbon energy-saving emission reduction Technical renovation projects can reduce maintenance costs and increase energy efficiency.
Nanning Sugar Industry Co., Ltd. also released its first-half performance forecast. It is expected that the net profit attributable to listed company shareholders in the first half of the year will be between RMB 129 million and RMB 158 million, an increase of 80% to 120% year-on-year. The company said that the substantial growth in its performance was mainly attributable to the significant increase in the price of sugar sold compared to the same period of last year, the increase in sales volume over the same period last year, and the VAT rebate for paper produced from bagasse as raw material in the first half of the year.