Hengtong Photoelectric to Finance CNY1.33bn

BEIJING, Apr 06, 2012 (SinoCast Daily Business Beat via COMTEX) -- Jiangsu Hengtong Photoelectric Stock (SHSE: 600487) announced on April 5 that it intended to issue no more than 67 million shares at no lower than CNY 19.55 a share or CNY 1.33 billion.

As planned, the company will invest CNY 590 million in expanding the optical fiber perform project with annual output of 600 tons, CNY 402 million in the smart grid composite fiber-optic cable project and CNY 295 million in the submarine fiber optic and cable project.

the optical fiber perform project planned to increase the annual production capacity by 600 tons to improve the company's annual production capacity to 950 tons, which is predicted to increase annual operating revenue of CNY 649 million and annual net profits of CNY 120 million after reaching full production.

The smart grid composite fiber-optic cable project, with a construction period of one year, will have annual production capacity of 6,000 kilometers and is predicted to increase annual operating revenue and net profits of CNY 1.333 billion and CNY 84.608 million. The submarine fiber optic and cable project, with a construction period of one year, has planned annual production capacity of 20,000 kilometers and is predicted to increase annual operating revenue and net profits of CNY 1.078 billion and CNY 75.673 million.

Source: www.yicai.com (April 06, 2012)

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