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Grammy successfully completed a non-public share offering and raised 2.425 billion yuan from 28 investors.
May 25,2020 10:31CST
translation
Source:SMM
On the evening of May 19th, Greenmei released the report on the issuance of non-public A shares and the listing notice, which showed that the non-public offering had been successfully completed and a total of 2.425 billion yuan had been raised. It is used for the investment and production of the company's power battery ternary cathode material, 30,000 tons / year ternary power battery material precursor production and other projects.
The content below was translated by Tencent automatically for reference.

SMM5: on the evening of May 19th, Greenmei released the report on the issuance of non-public A-shares and the listing notice, which showed that the non-public offering had been successfully completed and a total of 2.425 billion yuan had been raised. It is used for the investment and production of the company's power battery ternary cathode material, 30,000 tons / year ternary power battery material precursor production and other projects.

According to the announcement, the number of investors in this non-public offering reached 28, including 6 securities firms, 5 public funds, 5 state-owned capital, 4 private equity funds, 3 high net worth investors, 2 QFII foreign institutions, 2 industrial funds and 1 insurance. Of the total investment of 2.425 billion yuan, state-owned assets and securities reached 26.31% and 20% respectively, including well-known investors in the industry, such as Beijing Energy Group and Southern Fund. In addition, the non-public offering of Grammy has also attracted the participation of JP Morgan and UBS AG, which has become one of the few fixed-growth projects in the history of A-shares in recent years to introduce a number of QFII (qualified foreign institutional investors).

According to the 2019 report released by the company, the total operating income last year was 14.354 billion yuan, and the total profit was 867 million yuan, belonging to the net profit of shareholders of listed companies of 735 million yuan. The annual shipments of ternary precursors exceeded 60000 tons, an increase of nearly 50 percent over the same period last year. Annual shipments ranked first in the world for three consecutive years, accounting for more than 20 percent of the world market. Among them, the total sales of high-nickel and single crystal high-end ternary precursors exceeded 45000 tons, accounting for 75 percent of the total shipments, and the ternary precursors sold to the supply chain of global head power battery enterprises accounted for more than 70 percent of the total. And SAMSUNG SDI, ECOPRO, CATL, LGC, Xiamen Tungsten Industry, Rongbai Technology, Zhenhua and other domestic and foreign market mainstream customers to form strategic cooperation relations. In the next 3 years, Grimme has signed a long order for the sale of 300000 tons of ternary precursor materials.

Grammy's first-quarter 2020 results show that affected by the epidemic, the company achieved operating income of 2.292 billion yuan in the first quarter, down 27.04 percent from the same period last year, and realized non-net profit of 99.3758 million yuan, down 28.38 percent from the same period last year.

Greenmei said that the company has three parks in Wuhan, Jingmen and Xiantao, Hubei, with more than 3500 employees, accounting for more than 70 per cent of the group's total employees, and production and operation accounting for more than 70 per cent of the group's total. as a result, the decline in revenue in the first quarter was not easy to come by, and the company promised "no layoffs, no pay cuts, no abandonment of any employees". By the end of March, the company's employee attendance rate and production capacity rework rate had exceeded 95%. In particular, yesterday, the central government proposed to introduce a package of support policies to support the development of enterprises in Hubei. Greenmei is fully confident that it will be able to catch up and achieve the annual target set at the beginning of the year.

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