On 28th Sep.2017, issuance examination commission of CSRC China Securities Regulatory Commission hereinafter referred to “CSRC” examine and verify the application of Private Issuing of Stock of Long Jian, the consequences of the examination and verification showed that Long Jian has passed the application for issuing of the Stock. This event stands for the success of in 2017 year Long Jian’s private issuance of stocks and also marks a breakthrough in capital market for financing.
At the guide of “One Belt and one Road, at the background of the increment of economics into Normal, acceleration of restructure, improvement of market concentration, popularity of PPP models, Long Jian is eager to carry out the equity financing, at the leadership of State Asset Regulatory Commission, two classes of new leader teams of Heilongjiang Construction Group Co. Ltd and Long Jian Road and Bridge Co., Ltd. in high position aimed at the target and seize the chance of the dividend market to form the core competitiveness of enterprises. In the thirteen five-year plan, Long Jian promote “3+2+2” and four synchronization as the overall strategy to use the platform of the listed company, to implement the capital management policy and plan to launch the private issuing of stocks.
On 20th March 2017, Long Jian stopped to trade stocks and then launched the works of 2017 private issuing of stock, this works are engaged in many departments of the Long Jian as well as the Longjian’s affiliated companies, also including the mother company, its affiliated companies , agencies , asset exchanges; Long Jian’s business is involved in dozens of companies in and out the Heilongjiang Province, this kind of working sustain a little time, our workers usually work overtime and work all night; especially , Long Jian’s mother company submit the applications to State Asset Regulatory Commission of Heilongjiang just used 10 days to gain the approval, the high efficiency ,practical work style in mother company and SARC and their utmost supports to Long Jian made us admired and moved. The works for private issuing of stocks uses long time to gather some date\documents , so data even dated back to the beginning of Beiman Special Steel, and the scope of the works are engaged in many kinds of statement, description, verification and reports. Face to the all difficulties , Long Jian rose to challenges and carried out the works in good order. It was highly valued by leaders at different levels, with the joint efforts of the all staff of the Long Jian, approved by mother company, SASAC, reviewed by the stockholders' meeting of Long Jian, examined and fed back by China Securities Regulatory Commission, then finally passed examination and approval. After receiving the authorized approving documents we would star up the stocks issuance and finish the procedures for placement of fund-raising and registration, then further endeavor to build platform for capital operation as well as accumulate experiences to promote the operative capital measures through private issuance of convertible bonds, corporate bonds, preferred shares and participation of the investment money to merger and reorganize.
The issuance plans to raise the money not to exceed 570,000,000Yuan, the raising plan uses for PPP project for Shangdong Huncheng County about 420,000,000 Yuan, and the other 150,000,000 Yuan for working capital for supplement, the issuance object is Heilongjiang Construction Group Co.,Ltd. but not beyond 570,000,000Yuan cash to offer to buy in full amount.
Long Jian has reconstructed and listed for 15 years and never used the listed platform to engage in capital operation. The company succeeded in private issuance of stocks to break the “zero financing ”and laid the foundation for the smooth launch in capital operation. The private issuance of stocks would resolve bottleneck problems of development, such as high debt-to-assets ratio, shortage of liquid capital and capital fund. This private issuance of stocks has strategic significances in twin engines of “production operation” and “capital operation ” to help the enterprises’ transformative upgrade and fast development to promote the implementation of thirteen five year strategic objective.
Set sail with struggle and flood dragon is soaring in the highest heavens. We believe that Long Jian’s tomorrow will be better and better;