The Year of the Ox has a good start! Tongyu Heavy Industry Successfully Issue Stocks by Private Placement for the First Time Under The Registration System



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The Year of the Ox has a good start! Tongyu Heavy Industry Successfully Issue Stocks by Private Placement for the First Time Under The Registration System

       On February 18, 2021, the first working day of the Year Ox, Tongyu Heavy Industry Co., Ltd. (hereinafter referred to as "Tongyu " or "the Company") has released “Report on the Issuance of Stocks to Specific Entities" and other related announcements, announcing the successful issuance of Tongyu Heavy Industry's stock to the specific entity. The total number of shares issued this time is 629 million stocks shares, and the issue price is 1.50yuan per share.The total amount of funds raised is 944 million yuan.Since the China Securities Regulatory Commission officially implemented the reform of GEM registration system in June 2020, Tongyu Heavy Industry has become the first listed company under Zhuhai Port Holdings Group to complete equity refinancing, which will increase the Group's shareholding in Tongyu Heavy Industry to 20.34%. This is also the company's first private placement under the registration system. All the raised funds will be used to supplement the working capital, which is expected to save more than 50 million yuan of financial expenses every year, significantly optimizes the capital structure of the company and makes a good start in the Year Ox!


       In August 2020, Tongyu Heavy Industry took a very important step in its development history and officially became a state-owned listed company controlled by Zhuhai Port Holdings Group. Since the establishment of the company's new board of directors and board of supervisors in September 2020, this Private Placement project has been the top priority for the creation of the "Greater Bay Area State-owned Capital + Shandong Private Entity Industry National Mixed Reform". Under the correct leadership of the board of directors, the General Manager’s Office leads the refinancing team composed of the Securities Department and the Finance Department to fully mobilize the full synergy of the company’s member companies, departments, securities firms, law firms, and accounting firms. Through meticulous, rigorous fight day and night, with the fastest speed to declare the material submitted to the Shenzhen stock exchange and at the end of October, 2021 to be got accepted. Under the general guidance of the Shenzhen Stock exchange and other regulatory authorities to fully support the reform of state-owned assets and state-owned enterprises, continuously optimize the regulatory services, and help state-owned enterprises to become stronger, better and bigger, with good corporate governance, solid application materials and comprehensive and efficient responses to the two rounds of written inquiries, the company's private placement project only took about 3 months after acceptance. The company received the approval from China Securities Regulatory Commission on January 28, 2021, and completed the subscription and raised funds in full on February 4.
       After the issuance of private placement shares is completed and listed, the controlling shareholder Zhuhai Port Holdings Group’s shareholding ratio will reach 20.34%, further consolidating the controlling position of state-owned shareholders, which will help Tongyu Heavy Industry make better use of the state-owned holding credit, boost the main rating optimization, and provide stronger capital assistance for technological upgrading, industrial optimization and extension integration. In the era of wind power parity Internet starting in 2021, the company will continue to consolidate the leading position of wind power shaft, accelerate the increase of wind power casting market share, improve the production system of wind power structural parts with high standard and high level, and explore the "offshore market" and "overseas market" of wind power products with greater determination and courage. At the same time, Zhuhai Port Holdings Group will help Tongyu Heavy Industry to seize the important historical opportunity to promote the implementation of the "National New Energy Strategy", make full use of the company's comprehensive R&D and manufacturing industrial platform advantages, and Continue to promote R&D and manufacturing in the fields of green energy equipment manufacturing such as wind power, hydropower, nuclear waste treatment, and biomass power generation, and strengthen cooperation with the group and sister companies, give full play to the overall advantages, two-way empowerment, create more brilliant achievements for the dream of " Centennial Tongyu ", and bring better returns to all shareholders , and help the group to move forward towards the goal of " China's Top 500 Enterprises"!

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