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Great Wall Motor return of A shares on the 3rd season on the debt rate of 56.85%-glow plug,spark plug

A share in 2008, the return on the road "anchor" of the Great Wall Motor Company Limited (hereinafter referred to as the Great Wall Auto, 02333.HK), tomorrow (3 days) to accept China Securities Regulatory Commission issuance examination committee for review. And three years ago, the IPO (initial public offering) for the difference is that the expanded scale in fund-raising, fund-raising amount from 2.755 billion yuan to 3.166 billion yuan expansion.

    Scale fund-raising

    SFC latest prospectus disclosure of Great Wall Motor (draft report) shows that the Great Wall Motor to be issued not more than 304 million A shares, representing total issued share capital (including 1.033 billion H shares) and 10% intended to visit the Shanghai Securities Exchange. Great Wall Motor said that, A-share issue price of the prospectus will be published not less than 20 trading days before the average closing price of the Company's H shares of 90%.

    According to draft report shows that the Great Wall Motor plans and fund-raising total of 3.166 billion yuan for investment in engines, transmissions, axles and brakes, lights and other automotive interior and exterior, and the core components of the expansion project, including its planned 410 million yuan into an annual output of 100,000 diesel engine, 5.7 million dollars annual output of 300,000 engines project, and 5.7 million dollars car axles and brakes on projects. According to plan, raise investment projects completed and put into production smoothly, Great Wall Motor will bring an annual revenue of more than 8.54 billion yuan added, the new net profit of more than 980 million yuan.

    This is not the first time on the Great Wall. According to Commission issuance examination committee meetings 102 2008 audit results announcement, Great Wall at July 14, 2008 audit were not passed. Data show that there were no Great Wall Motor to be issued more than 121 million A shares, representing the total issued share capital of 10% after the lead underwriter for the Galaxy Securities. And raise funds to investment projects include: an annual output of 100,000 sets of automatic transmission projects, technical center expansion project, Test Center construction project, new high-performance diesel engine project, the Global version of the advanced projects and global SUV version of the C-Class project, total investment is expected to 2.755 billion yuan.

    Great Wall Motor draft report, as at the date of signing the prospectus, innovation, Great Wall holds a 62.27 percent stake in Great Wall Motor is the controlling shareholder; Jian-Jun Wei holds a 62.35% stake in innovation and the Great Wall, Great Wall Motor is the actual controller. After this release, the actual control of the control of the shares will be diluted to 56.04%, but still in the position of absolute control.

    Based on the above information, Jian-Jun Wei, aged 47, economist, has permanent residency in Guinea-Bissau, the CPC Hebei Provincial Committee Party School business management graduate. Served as general manager of Baoding Great Wall Automobile, Baoding Great Wall Automobile Group Co., Ltd., general manager. Department of Hebei Province People's Congress in 1999, was named 'model worker in Hebei Province "in 2003, was named" outstanding representative of Chinese private enterprises "in 2008 was awarded the" China-based auto industry figures, "the honorary title, in 2009 was named "Hebei individual and private economic leader."

    Rapid increase in debt ratio

    It is noteworthy that the Great Wall in 2008 when the A-share IPO application for a typical "bad money" enterprise. According to Great Wall Motor to declare the 2008 draft prospectus, as of December 31, 2007, Great Wall Motor has 3.312 billion yuan in cash money, assets and liabilities was 30.65%. May 19, 2007, Great Wall Motor to complete additional 151 million shares H shares, issue price per share of HK $ 10.65, a total of HK $ 1.609 billion of funds raised.

    To this end, the media quoted the analysis of Great Wall Motor insiders believe that its own liquidity, low debt, and just issuing H shares in 2007, or Great Wall Motor A-share IPO in 2008 was not an important reason. The second day of announcement of the SFC, HKEx announced the Great Wall Motor said: The company will use its own funds to solve their own problems.

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