Shandong femme a la mode Luyang to raise up to RMB 350 mln&lt;br&gt;

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Shandong femme a la mode Luyang to raise up to RMB 350 mln<br>

Posted by czynr on September 14, 2011 at 3:45 AM

Shandong femme a la mode Luyang to raise up to RMB 350 mln
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Shandong Luyang to raise up to RMB 350 mlnPublished: 20 Sep 2009 18:29:01 PST

Sep. 21, 2009 (China Knowledge) - Shandong Luyang Share Co Ltd<002088>, a ceramic fiber producer based in Shandong Province, today began to issue up to 24 million shares for RMB 350 million at most or RMB 18.22 per share to fund the development of five plants, sources reported.

The Shenzhen-listed enterprise has already put three of the five plants into operation, including a project with an annual output of 16 million of mullite bricks, a soluble fiber project capable of producing 20,000 tons a year and a ceramic fiber project with an annual output of 18,000 tons.

The remaining two projects, which are both in the process of construction, are a thermal baffle project having a designed yield of 20,000 tons a year and a research and development project for ceramic fiber.

In the first half of this year, Shandong Luyang Share's total operating revenue reached RMB 355.15 million, whereas it earned RMB 374.88 million a year earlier, reflecting a year-on-year decline of 5.26%. Net profit attributable to shareholders decreased 8.83% year on year to RMB 60.67 million from RMB 66.55 million.

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