According to the announcement, Tiantong High-tech Group Co., Ltd. promised to subscribe no less than 5% of the total number of shares issued this time, and not more than 10% of the total number of shares issued this time, and the lock-up period is 36 months. After the completion of the issuance, the actual controlling share of the company's Pan Jianqing and Du Haili couples fell from 24.08% to 20.64%.
In terms of fundraising, the company plans to invest more than 2 billion yuan in smart mobile terminal applications for large-scale sapphire wafer investment projects, and to implement front-end crystal growth and back-end wafer processing in Yinchuan, Ningxia and Haining, Zhejiang, respectively. The funds raised were 600 million yuan and 1.4 billion yuan respectively.
Tiantong shares said that the fund-raising investment project has greatly improved the company's sapphire material supply capacity, improved the company's overall profitability and increased the company's operating performance. After this non-public issuance, it will help the company to expand its application in the consumer electronics industry, especially in the field of mobile terminal window materials, and seize a more favorable market position.
Tiantong is mainly engaged in the business of magnetic materials, high-end special equipment manufacturing, electronic materials and components, and photovoltaic solar products.
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