Futian Motor announced on the evening of June 6 that in order to increase the efficiency of raised funds, according to the current economic environment and the actual situation of the project, the company intends to make changes to the “Changsha Automobile Plant Reconstruction and Expansion Project†and will invest the funds raised from this project. 11.39 billion yuan was used to invest in the "heavy machinery Huairou plant project."
Changsha Automobile Factory Reconstruction and Expansion Project
The original plan has a total investment of 1.2 billion yuan. After the project is implemented, it will add a total of 100,000 production capacity of the two trucks of the annual production capacity of light trucks and Shuiwo Construction Trucks. Foton Motor stated that under the influence of macroeconomic factors and other factors, in the era of the company, the current capacity of the card and Shuiwo engineering vehicle business has already met the demand of the future market, considering deferring investment in the project and investing in the project. Raise funds to new projects.
According to reports, the total investment of the new project heavy machinery Huairou Factory project is 2.13 billion yuan. After the completion of the project, it will reach an annual capacity of 6,000 heavy engineering machinery, including 4,500 truck cranes, 225 crawler cranes, and 1,275 concrete pump trucks. The project has been approved by the Beijing Economic and Information Technology Commission's Jing Jingxin Committee letter [2012] Document No. 12 and the Beijing Environmental Protection Bureau Beijing Jing Huan [2012] 264.
According to the project's forecast, the construction period of the heavy machinery Huairou plant project will be 4 years, and it will reach the production program in 2016. After the project is put into production, it is expected to realize sales revenue of 5.823 billion yuan and total profit of 689.33 million yuan. The internal rate of return on finance is 18.6%, and the payback period is 7.1 years.
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