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china listed companies network/text

on september 5, 2024, the rmb 2.7 billion convertible corporate bonds issued by wankai new materials were officially listed on the shenzhen stock exchange. the funds raised this time will be mainly used for the annual production of 1.2 million tons of meg and 100,000 tons of electronic-grade dmc new materials project (phase i), as well as to supplement working capital. the annual production of 1.2 million tons of meg and 100,000 tons of electronic-grade dmc new materials project is planned to be built in two phases, with a total investment of rmb 10 billion, of which the investment in the first phase of the 600,000 tons of meg project is rmb 6 billion, and the estimated construction period is about 36 months.

the industry in which wankai new materials operates is in a stage of rapid development, and market demand continues to grow, which provides strong support for the company's business expansion and performance improvement. with its significant advantages in technological innovation, product quality and market services, wankai new materials has established an excellent brand image in the industry. the convertible bonds issued this time will undoubtedly enhance the company's financial strength, help the company build an integrated industrial chain, and promote wankai new materials to achieve leapfrog and high-quality development.

market demand is rising steadily, and internal driving force demonstrates strong resilience

wankai new materials is one of the leading domestic polyester material research and development, production and sales companies. it is committed to providing the society with healthy, safe, environmentally friendly and high-quality polyester materials. its main products include bottle-grade pet and dayouguang pet. in recent years, under the influence of the national supply-side reform policy and the industry's spontaneous de-capacity, my country's bottle-grade pet industry has entered a period of adjustment. small-scale enterprises with weak market competitiveness have been eliminated, and industry leaders have gradually increased market concentration through capacity expansion.