Lu Tai Can Raise 1 Billion 400 Million Of Its Convertible Bonds For Functional Fabrics, Smart Ecological Parks And Other Projects.

In May 13th, the listing ceremony of the Ru Tai textile Limited by Share Ltd convertible bond was held in the village of Shandong. The Zibo provincial high quality development service team of the private sector in Zibo Province, Xu Qinghao, the deputy director of the provincial audit department and the members of the service team, Wang Kejie, vice mayor of the Zibo municipal government, Dong Yunbo, former Secretary General of the Zibo municipal government, Li Xinsheng, Secretary of the Zichuan Regional Committee, and Deputy Secretary of Zichuan District Committee, Sichuan district mayor Yan Guixin and other urban leaders, Lu Tai textile Limited by Share Ltd chairman and President Liu Zibin and other company leaders attended.

At the ceremony, Xu Qinghao, Wang Kejie, Dong Yunbo, Li Xinsheng, Yan GUI and other provincial and urban leaders and Liu Zibin, chairman of the board of directors, jointly came to power for the listing of Lu Tai convertible bonds, and shared with everyone the historic moment of the first opening of Lu Tai convertible bonds.

Speaking at the ceremony, Li Xinsheng said that in the critical period of continuous improvement of the new crown epidemic prevention and control situation and the full restoration of production and life order, the listing of Lu Tai convertible bonds has not only greatly promoted the implementation of Lu Tai's strategic plan for "creating a new world in the field of subdivision, rebuilding a new Lu Tai", but also nurturing the "pilot enterprise" group in Zichuan and the high quality of regional economy. The exhibition will play a positive and important role.

Li Xinsheng hoped that Lu Tai could take advantage of this convertible bond listing as an opportunity to seize opportunities and counter the trend, and continue to accelerate the pace of innovation, enhance the core competitive edge, and repay society and investors with outstanding results. The Zichuan district will further promote the "Reform Project No. 1" to optimize the business environment, intensify efforts to care for entrepreneurs, and strive to create a better development environment.

Liu Zibin introduced the company's issuance of convertible bonds. He said that according to the new changes in the company's development situation, Lu Tai officially launched the initial public offering of A shares convertible bonds in May 2019, which lasted for 1 years. After preparatory, declaring, pre-trial, meeting and issuing, the fund was successfully collected in April 15th this year. The convertible bond will raise funds of 1 billion 400 million yuan, which will be used in the functional fabric smart ecological park project, the high-grade printing and dyeing production line project and the supplementary part of the working capital. The successful issuance of 1 billion 400 million yuan convertible bonds under the impact of the new crown disease and the tremendous economic pressure in the world has greatly boosted our confidence and is of great importance for the future development of Lu Tai.

Liu Zibin said, at present, the new crown epidemic continues to spread abroad, and the market situation is still grim. Issuing convertible bonds has relieved our development pressure to a certain extent and enhanced the ability to resist risks. But facing the cold winter market, we have a long way to go. Lu Tai will take the issuance of the convertible bonds as an opportunity to speed up the project construction and achieve an early success. Under the firm leadership of the party and the government, with the full help of the Zibo first team of the high quality development service team of the provincial private sector, Lu Tai will firmly develop confidence, overcome difficulties in development, overcome the market crisis, continue to be bigger and stronger, and make greater contributions to the economic and social development of the region.