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History of Direct Financing
Historical Overview of the Company’s Direct Financing and Use of Raised Funds
I. The company’s A shares were first issued in 1993, raising net proceeds of approximately RMB 128 million, which have been allocated to the following projects:
1. Shenzhen Dalengwang Transportation Refrigeration Co., Ltd. – RMB 3.761 million
2. Dalian Dayang Transportation and Refrigeration Engineering Co., Ltd. – RMB 1.967 million
3. Dalian Sanyo Refrigeration Co., Ltd. – RMB 25.678 million
4. Dalian Benzhuang Chemical Co., Ltd. – RMB 3.909 million
5. Dalian Sanyo Cold Chain Co., Ltd. – RMB 37.196 million
6. Dalian Dayang Automotive Air Conditioning Co., Ltd. – RMB 20 million
7. Company technological upgrade project: RMB 33.5 million
II. Share Placement of A Shares in December 1994. The net proceeds raised amounted to approximately RMB 31 million, which have been invested in the following projects:
1. Dalian Sanyo Compressor Co., Ltd. RMB 21.7 million
2. Dalian Minghua Electronics Co., Ltd. – RMB 7.61 million
3. Dalian Sanyo Cold Chain Co., Ltd. – RMB 9.364 million
III. Rights Issue of A Shares in May 1997. The net proceeds raised amounted to approximately RMB 111.76 million, which have been allocated to the following projects:
1. Development of a semi-hermetic screw compressor: RMB 30 million
2. Joint development of large-scale air-conditioning terminal products: RMB 36.5 million
3. Supplementing working capital RMB 45.26 million
IV. B-share issuance in March 1998. The net proceeds raised amounted to approximately RMB 360 million and have been allocated to the following projects:
1. The capital increase and expansion project of Dalian Sanyo Compressor Co., Ltd. has received an investment of RMB 155.2556 million, representing 100% of the planned investment.
2. A large-scale screw refrigeration compressor project has been developed, with an investment of RMB 60 million, representing 100% of the required investment.
3. The Technical Center Project of Daling Shares has been established, with an investment of RMB 19.2 million, representing 100% of the planned investment.
4. The joint-venture project for the production of air-cooled heat exchangers has received an investment of RMB 15.5 million, representing 100% of the required investment.
5. The acquisition of a 40% equity stake in Dalian Sanyo Home Appliances Co., Ltd. has been completed.
6. The acquisition of a 40% equity stake in Dalian Sanyo Food Equipment Co., Ltd. has been completed.
7. The acquisition of a 40% equity stake in Dalian Sanyo Air-Conditioning Co., Ltd. has been fully implemented.
V. In June 2016, the Company conducted a non-public issuance of A-shares, raising net proceeds of approximately RMB 560 million, which were allocated to the Company’s relocation and renovation project.
VI. In July 2018, the Company issued non-publicly offered exchangeable corporate bonds, raising net proceeds of RMB 174.5 million, which were used to repay the Company’s bank loans.
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Dalian Bingshan Group Co., Ltd.
Address: No. 106, Liaohe East Road, Dalian Economic & Technological Development Zone
Phone:
0411-87968888 (Main Line)
0411-87968930, 8931 (Sales)
0411-87968000 (After-Sales Service)
400-0411-380 (Customer Service Hotline)
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