BEIJING, Feb. 5 (Xinhua) - Changyuan Group Ltd. (600525.SH) unveiled late Thursday its 800 million yuan private placement plan to finance, with 560 million yuan of the funds raised, an R&D and production basefor smart power grid products.
The company will pump the remaining 240 million yuan capital into repaying bank borrowings.
As its plan tells, its smart power grid products R&D and manufacturing base involves totally 904 million yuan investment and is divided into two segments - smart power grid products production and R&D.
After the base is put into operation after a 3-year long planned construction period, it is expected to bring 2.490 billion yuan of additional operating incomes for the company annually, which means a 20.86 percent financial internal rate of return.
The base is intended to produce produced used in intelligent substations, smart power distribution grids and overload protection devices for power grids.
Changyuan Group's main business covers electric automobile-related business, smart factory equipment and solutions, as well as smart power grid equipment R&D, manufacturing and services. (Edited by Duan Jing, duanjing@xinhua.org)
A single purchase
