Aoke shares today announced that the company plans to use super-raised funds of 840 million yuan as capital to build "annual production of 200,000 tons of ethylene oxide project and 300,000 tons / year of low-carbon epoxy derived fine chemical new materials project." The project plans to invest a total of 1.68 billion yuan, of which capital accounted for 50% of the investment, the remaining 50% of the funds will apply for bank loans.
According to reports, the project was implemented by the wholly-owned subsidiary of the company, Jiangsu Aoke. The company will use the capital increase to invest this raised capital in Jiangsu Aoke. The construction period of the project is 28 months. The production load in the first year after putting into production is 80%, the production load in the second year is 90%, and it reaches 100% of design capacity in the third year. It is estimated that the average annual sales income can reach 3.762 billion yuan in average years. Total profit of 632 million yuan.
Aoke said that the project construction period is relatively long and will not affect the company's performance in the short term, but it can further improve the structure of the company's epoxy derivative fine chemical products. In addition, the project construction will also further enrich the company's structure of ethylene oxide derived fine chemical new material products, and continue to enhance its leading position and core competitiveness in the ethylene oxide refining and processing industry.
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