Jinhe Biotechnology's application to issue shares to specific investors through a simplified procedure has been accepted by the Shenzhen Stock Exchange. The total funds to be raised in this offering are 300 million yuan, with an issue price of 4.42 yuan per share and an issue size of 67.8733 million shares. After deducting issuance expenses, the proceeds will be fully used for the expansion and upgrade project of sewage treatment capacity and water resource recycling, a new product warehouse construction project, and supplementary working capital. The total investment for the sewage treatment project is 158 million yuan, with 136 million yuan planned to be funded by the raised proceeds. It will be implemented by the wholly-owned subsidiary Jinhe Environmental Protection. Upon completion, it will add sewage treatment capacity of 6,000 cubic meters per day and zero-discharge treatment capacity of 6,000 cubic meters per day. The total investment for the new product warehouse construction project is 152 million yuan, with 128 million yuan planned to be funded by the raised proceeds. It will be implemented by the wholly-owned subsidiary Jinhe Starch. Upon completion, it will add approximately 150,000 tonnes of corn storage capacity. The supplementary working capital will use 36.4671 million yuan from the raised proceeds. There are 11 subscribers in this offering, including institutional investors such as Caitong Fund Management and Nuode Fund Management, as well as the individual investor Tian Yang. After the issuance, the combined shareholding of the actual controller Wang Dongxiao and his concert parties will be diluted from 33.29% to 30.59%, but they will remain the actual controllers of the company.
Jinhe Biotechnology Co LtdThe company's private placement application was accepted, raising 300 million yuan for expansion projects.
Caitong Securities Co LtdJinhe Starch will receive 128 million yuan from the proceeds for a new product warehouse, adding corn storage capacity.