Eastern Rain Rainbow Plans To Increase Fund-Raising Of 700 Million Yuan

Dongyu Yuhong (002271) announced the refinancing scheme, and intends to issue non-public offering stocks to a specific target of not more than 10. The number of non-public offering stocks is no more than 30 million shares (including 30 million shares), and the issuing price is no less than 23.84 yuan / share.

The fund will be invested in "Jinzhou City Development Zone annual production of 20 million square meters waterproofing membrane and 40 thousand tons of waterproof coating project" and "Huizhou Dayawan Industrial Development Zone annual output of 20 million square meters of waterproofing membrane and 20 thousand tons of waterproof coating project", the two projects total use of raised funds to invest not more than 451 million 410 thousand and 500 yuan.

At the same time, the company announced that it decided to build a production base in Dayawan Industrial Development Zone, Huizhou city and Jinzhou economic and Technological Development Zone in Liaoning, Guangdong, and set up Huizhou Dongyu Rainbow Building Materials Co., Ltd. and Jinzhou Dongyu Yuhong construction materials Co., Ltd., the registered capital was 50 million yuan respectively, and the main business was production and sale of waterproof materials.

The investment and construction of Huizhou and Jinzhou companies will be temporarily funded by their own funds according to the progress of the project, and be replaced after the fund-raising funds are in place.

The company said that the layout of the above two regions can shorten product sales and service radius and increase market share, so as to improve the company's national market share and meet the company's penetration of the national market development strategy.