[Industry News]: Sanlishi is set to increase its investment by 725 million yuan to accelerate the construction of an intelligent industrial park for rubber transmission belts
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March 6, 2024, 9:10 AM Recently, Sanshi, a leading company in the rubber drive belt industry, successfully completed a fixed increase and raised funds reaching 725 million yuan. After deducting issuance expenses, the net fundraising was 704 million yuan. It is reported that this fund will be mainly used to promote the construction of an intelligent industrial park for rubber drive belts with an annual output of 500 million A meters and a digital intelligent management platform.
According to the previously announced fixed increase plan, Sannix plans to raise the funds by issuing shares to specific targets. Among them, the intelligent industrial park project of rubber transmission belts with an annual output of 500 million A meters is implemented by Zhejiang Sanlishi Intelligent Transmission Technology Co., Ltd., a wholly-owned subsidiary of the company, with an estimated investment of approximately 1,550.9367 million yuan. After the completion of the project, Sannux will add an annual production capacity of 500 million A meters of rubber V-belts and significantly increase the production and sales scale of high-end series rubber V-belts.