Zhongqi Shares announced plans to issue A-shares to up to 35 specific investors, including Wu Yaojun, one of the actual controllers, with total funds raised not exceeding 640 million yuan. Wu Yaojun intends to subscribe with no less than 50 million yuan in cash. The proceeds will be allocated across seven areas, with four capacity construction projects receiving a combined 341 million yuan. These include an annual output of 3,400 tonnes of new pesticide technical materials and related products project (phases two and three), an annual output of 1,300 tonnes of new pesticide technical materials and related products project (phase one), an annual output of 15,500 tonnes of new pesticide technical materials and related products project (phase two, third batch), and an annual output of 1,300 tonnes of pesticides and related products project. The products cover boscalid, fluxapyroxad, bixafen, saflufenacil, pinoxaden, and thiencarbazone-methyl. In addition, the R&D center upgrade project and the innovative pesticide product development and registration project will receive 40 million yuan and 69 million yuan respectively, while 190 million yuan will be used to replenish working capital. The company stated that these investment projects will strengthen its positioning in both generic and innovative pesticides, cultivate new profit growth points, and also highlighted risks such as project implementation, increased depreciation, and raw material price fluctuations.
Jiangsu Flag Chemical Industry Co LtdPlans to raise up to 640 million yuan to expand new pesticide capacity, strengthening its market position.