Yu Diamond: Investing 285 million expanded micron diamond wire project

Yu Diamond released a non-public offering plan today. The company plans to issue no more than 80 million shares to no more than five issuers, raising no more than 325 million yuan, of which 285 million will be invested in an annual output of 350 million meters of micron diamond line expansion project ( Hereinafter referred to as the diamond line project), the remaining 40 million yuan will be used to supplement the working capital to ease the company's current working capital shortage and reduce the short-term debt repayment risk.

The announcement shows that the diamond line project was specifically organized by Huajing Precision, a wholly-owned subsidiary of Yu Diamond. The micron diamond wire is mainly used in the field of silicon-based battery slicing, silicon rod opening, and silicon rod cutting in the solar photovoltaic industry. It is used in the sapphire industry for cutting LED substrate sheets, epitaxial wafers, etc., such as precious metals and precision ceramics. Etc. Cutting, the application field is more extensive. At the same time, according to the research of the Diamond Marketing Department, with the increase in the penetration rate of sapphire in emerging fields, the market space of the micro-diamond line used by the sapphire industry will increase by tens of times, and the micro-diamond line of 2014~2016 is conservatively estimated. Market demand can reach 800 million meters, 1.1 billion meters, and 1.4 billion meters.

Yu Diamond said that the construction period of the diamond line project is 20 months. After the project is put into production, the annual sales income will be 164 million yuan in normal years, and the annual average net profit after tax will be 41.44 million yuan. The investment recovery period (including the construction period) is 5.4 years. The capacity bottleneck of the company's micron diamond line will be further solved, the production capacity will be further improved, and the customer's demand for the company's micro-diamond wire products will be satisfied, and the market share will also be improved.

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