[Chinese instrument network enterprise weather vane] Recently, Sanchuan Water Meter issued a non-public offering of funds to raise funds, and pointed out that the raised capital of RMB 4001.7 million will be mainly used to supplement liquidity to promote the sustainable development of the company's main business. In addition, the pen Funds will not indirectly increase the effectiveness of the initial investment project.
On March 9, 2015, Jiangxi Sanchuan Water Meter Co., Ltd. (referred to as “Sanchuan Water Meterâ€) held the sixth meeting of the fourth board of directors. The meeting mainly reviewed and approved the "Report on the Use of Funds Raised by the Company Previously". The report was prepared by the board of directors of Sanchuan Water Meters and hired Ruihua Certified Public Accountants (Special General Partnership) to issue the “Report on the verification of the use of funds previously raised by Jiangxi Sanchuan Water Meter Co., Ltd.â€.
On October 29, 2014, at the third extraordinary general meeting of 2014 convened by Sanchuan Water Meter, the relevant resolution on non-public issuance of stocks was considered and passed. The content of the non-public issuance of stocks totaled no more than RMB 401,700,000, deducting issuance All expenses are used to supplement company liquidity.
As for whether the non-public issuance of liquidity may indirectly increase the efficiency of the initial fund-raising project, Sanchuan Water Meter stated that the non-public offering is intended to supplement liquidity with raised funds of no more than RMB 401.70 million to promote the company. The main business of sustainable development. The main implementation directions of the raised funds include: (1) procurement of raw materials for copper parts, iron/stainless steel parts, movements and plastic parts; (2) research and development expenditure; (3) extension of industrial chain (heating, gas supply, etc.) (Field extension); (4) M&A restructuring expenses. The effectiveness of the raised funds is mainly represented by the capital cost saved by the company using the raised capital to supplement the working capital and the income generated by using the raised capital investment. The company ensures that the non-public offering of funds raised will not indirectly increase the effectiveness of the initial investment project.
With the increasing scarcity of global water resources, the importance of water metering and water control has become increasingly apparent. In addition to the government's implementation of sewage discharge supervision, "new rural construction" and other projects, the expectations of high-precision water meters for water supply and drainage users and the market demand for remote meter reading and charge management systems, etc. The product proposes higher requirements and greater demands. According to data from the National Bureau of Statistics, the urbanization rate in China at the end of 2013 reached 53.7%. It is predicted that a 1 percentage point increase in the urbanization rate means that at least 13 million people will change from farmers to citizens, which will directly bring in 174 billion yuan in new consumption.
The industry and business operations of Sanchuan Water Meter are closely related to the new type of urbanization, and the national policy of urbanization will bring huge development opportunities to the company. As a leading company in China's water meter industry, in recent years, Sanchuan's water metering, water information services, and environmental water management businesses have developed rapidly, and the income scale has continued to grow. With the continuous extension of the company's industrial chain and business model transformation, the company's main business will continue to maintain a sustained growth trend. The expansion of the company’s operating income has led to an increase in the company’s demand for working capital, which will require adequate liquidity support.
On March 9, 2015, Jiangxi Sanchuan Water Meter Co., Ltd. (referred to as “Sanchuan Water Meterâ€) held the sixth meeting of the fourth board of directors. The meeting mainly reviewed and approved the "Report on the Use of Funds Raised by the Company Previously". The report was prepared by the board of directors of Sanchuan Water Meters and hired Ruihua Certified Public Accountants (Special General Partnership) to issue the “Report on the verification of the use of funds previously raised by Jiangxi Sanchuan Water Meter Co., Ltd.â€.
On October 29, 2014, at the third extraordinary general meeting of 2014 convened by Sanchuan Water Meter, the relevant resolution on non-public issuance of stocks was considered and passed. The content of the non-public issuance of stocks totaled no more than RMB 401,700,000, deducting issuance All expenses are used to supplement company liquidity.
As for whether the non-public issuance of liquidity may indirectly increase the efficiency of the initial fund-raising project, Sanchuan Water Meter stated that the non-public offering is intended to supplement liquidity with raised funds of no more than RMB 401.70 million to promote the company. The main business of sustainable development. The main implementation directions of the raised funds include: (1) procurement of raw materials for copper parts, iron/stainless steel parts, movements and plastic parts; (2) research and development expenditure; (3) extension of industrial chain (heating, gas supply, etc.) (Field extension); (4) M&A restructuring expenses. The effectiveness of the raised funds is mainly represented by the capital cost saved by the company using the raised capital to supplement the working capital and the income generated by using the raised capital investment. The company ensures that the non-public offering of funds raised will not indirectly increase the effectiveness of the initial investment project.
With the increasing scarcity of global water resources, the importance of water metering and water control has become increasingly apparent. In addition to the government's implementation of sewage discharge supervision, "new rural construction" and other projects, the expectations of high-precision water meters for water supply and drainage users and the market demand for remote meter reading and charge management systems, etc. The product proposes higher requirements and greater demands. According to data from the National Bureau of Statistics, the urbanization rate in China at the end of 2013 reached 53.7%. It is predicted that a 1 percentage point increase in the urbanization rate means that at least 13 million people will change from farmers to citizens, which will directly bring in 174 billion yuan in new consumption.
The industry and business operations of Sanchuan Water Meter are closely related to the new type of urbanization, and the national policy of urbanization will bring huge development opportunities to the company. As a leading company in China's water meter industry, in recent years, Sanchuan's water metering, water information services, and environmental water management businesses have developed rapidly, and the income scale has continued to grow. With the continuous extension of the company's industrial chain and business model transformation, the company's main business will continue to maintain a sustained growth trend. The expansion of the company’s operating income has led to an increase in the company’s demand for working capital, which will require adequate liquidity support.
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