Anning shares fixed increase registration is approved to be listed on the Shenzhen Stock Exchange
On October 18, the official website of the Shenzhen Stock Exchange disclosed the approval of Sichuan Anning Iron and Titanium Co., Ltd.(stock code: 002978, stock abbreviation: Anning Shares (002978)) for issuing shares to specific objects and obtaining the approval of the China Securities Regulatory Commission for registration. The company's fixed increase registration was approved. The number of shares issued by the company this time is 120,300,000 shares and is planned to be listed on the main board of the Shenzhen Stock Exchange.
Anning Co., Ltd. is a circular economy enterprise that comprehensively utilizes vanadium-titanium resources for mining and dressing polymetallic co-associated ores with advanced technology. It has abundant reserves of vanadium-titanium magnetite resources and has continued to invest in R & D and continuously explore technologies and processes in downstream fields. The company has mastered key technologies for the comprehensive utilization of vanadium-titanium magnetite resources. At the same time, the company has built a matching technical and management team and has the ability to extend to the downstream industrial chain.
The company is mainly engaged in the mining, washing and sales of vanadium-titanium magnetite ore. Its main products are titanium concentrate and vanadium-titanium iron concentrate. During the reporting period, the company's sales revenue of titanium concentrate and vanadium-titanium iron concentrate accounted for more than 99%. The company's products are of excellent quality, stable quality, and high customer recognition.
The total amount of funds raised by Anning Co., Ltd. from issuing shares to specific targets will not exceed 1,703.759 million yuan. The net funds raised after deducting issuance expenses will be used for the entire industry chain project with an annual output of 60,000 tons of energy-grade titanium (alloy) materials.
Anning shares stated that the raised capital investment project is in line with relevant national industrial policies, industry development plans and the company's overall future development strategy. Through this issuance, the company's capital strength and asset scale will be improved, and its ability to resist risks will be enhanced, which will help improve the company's comprehensive competitiveness and market position and promote the company's long-term sustainable development.
This issuance to specific objects will provide strong financial support for the company's industrial layout and sustainable development. After the completion of this issuance, the company's total assets and net assets will increase at the same time, the asset-liability ratio will be reduced, and the financial situation will be improved. At the same time, with the gradual implementation and commissioning of this fund-raising investment project, the company's revenue level will grow steadily, its profitability and risk resistance will be improved, and the overall strength will be effectively improved, which will further enhance the company's sustainable development capabilities. At the same time, it takes a certain period of time to generate benefits from raised funds invested in projects. Therefore, in the short term, the company may experience situations such as a decline in return on net assets and a dilution of earnings per share. In the future, with the gradual release of the performance of fundraising projects, the company's indicators such as return on net assets and earnings per share will increase.
