Shuguang Co., Ltd. announced that the company plans to implement the project to relocate and build a new energy automobile industry base in Huangdong, Dandong. The total investment of the project is 1.402 billion yuan, and the construction scale is to produce 5,500 medium and high-grade large and medium-sized new energy buses and 45,000 SUV/pick-up truck frames annually.
The project was built in the equipment manufacturing park of Lingang Industrial Park in Dandong City, with 1,371 mu of land newly acquired, 182,600 square meters of new factory buildings and supporting facilities, new assembly, painting, and welding production lines, and the addition of electrophoresis and other processes to form the vehicle. The annual production capacity of 5500 new energy buses and double-shift production of 45,000 pickup SUV frames per shift. The project is expected to be completed and put into production by the end of October 2014.
The main investment of this project is the company's holding subsidiary Dandong Huanghai Automobile Co., Ltd. The total investment of the project is 1.402 billion yuan, of which the total construction investment is 979 million yuan, and the current capital is 423 million yuan; the source of funds is self-raised by Dandong Huanghai. It is understood that Dandong Huanghai is currently one of the mainstream passenger car manufacturers in China and has developed a variety of new energy buses such as hybrid city buses, pure electric passenger cars, super capacitor city buses, and LNG/CNG buses.
Although the relocation project is of great significance to Shuguang, how to raise funds is still the top issue facing the company. Only from the company's performance in the first three quarters, the loss amounted to RMB 31.52 million, and the performance decreased by 259.23% year-on-year.
It is worth noting that, according to the project plan, after the completion of the construction of the new energy automotive industrial base for the new investment, the existing production plant area in Huangdong, Dandong, will exit the production and operation. After the relocation, the existing Dandong Yellow Sea factory site (about 780 acres) will be under the guidance of the Dandong City Government and will be transferred autonomously according to the overall city plan. The proceeds from the transfer will be owned by the company. The transfer of land use rights and other related assets may have a significant impact on the overall profitability of the company in the current transfer period.
At present, the concept of land circulation has been continuously fermented, and the transfer of industrial land based on the Shanghai Free Trade Zone has been in full swing. The secondary development through the transfer of industrial land can effectively solve the problem of land supply in the process of urbanization. The huge spread between industrial land and commercial and residential land has also become an important factor for listed companies to obtain premiums. For Shuguang Shares, after the relocation, the existing 780-mu plant area in Huanghai, Dandong will be transferred according to the plan, and the company is expected to obtain certain benefits from it.
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