Shandong Hongqiao under Weiqiao raises short-term financing of RMB1 billion
2017-12-28 17:13:09 [Print]
On December 26, Shandong Hongqiao New Materials Co., Ltd. released Prospectus for the Fourth Short-Term Financing of 2017.
The capital of RMB1 billion raised through short-term financing bonds this time will all be used to supplement working capital for production and operation activities of Shandong Weiqiao Aluminum Co., Ltd. and its subsidiary companies, which is mainly used for purchase of raw materials like alumina, anode block and coal. Shandong Hongqiao expects that the working capital gap of Weiqiao Aluminum and its subsidiary companies in 2018 will be RMB23.236 billion in total.
By the end of September 2017, Weiqiao Aluminum and its subsidiaries owned and operated capacity of 6.46 million tons for aluminum products and auxiliary thermal power plants.
The capital of RMB1 billion raised through short-term financing bonds this time will all be used to supplement working capital for production and operation activities of Shandong Weiqiao Aluminum Co., Ltd. and its subsidiary companies, which is mainly used for purchase of raw materials like alumina, anode block and coal. Shandong Hongqiao expects that the working capital gap of Weiqiao Aluminum and its subsidiary companies in 2018 will be RMB23.236 billion in total.
By the end of September 2017, Weiqiao Aluminum and its subsidiaries owned and operated capacity of 6.46 million tons for aluminum products and auxiliary thermal power plants.
Aluminum Scrap Profile Al 91%min Ex-VAT Delivered China
Unit:RMB/mt
China secondary aluminum alloy producers' sales to production ratio statistics by province by month
Unit: %
