安徽金种子酒业股份有限公司

Core Viewpoint - The company announced adjustments to its fundraising investment projects, including content changes and extensions of completion dates for specific projects, in response to current economic conditions and market competition [1][3]. Fundraising Overview - The company raised a total of RMB 576.42 million through a non-public stock issuance, with a net amount of RMB 568.22 million after deducting issuance costs [1]. - The funds were fully received by April 1, 2019, and have been allocated to various investment projects [1]. Project Adjustments and Extensions - The completion dates for the "High-Quality Base Liquor Technology Transformation and Supporting Engineering Project" and the "Marketing System Construction Project" have been extended to December 31, 2027, due to various implementation challenges [3][4]. - The adjustments include optimizing the marketing system project by reducing investments in certain regional operation centers while increasing investments in marketing display centers and online platforms [3][11]. Reasons for Adjustments - The "High-Quality Base Liquor Technology Transformation" project has seen a 90% completion rate but faced delays due to procurement and construction issues [3][4]. - The "Marketing System Construction Project" is ongoing, influenced by intensified industry competition and slow market development, necessitating a strategic review and extension of the project timeline [3][4]. Project Feasibility and Benefits - The technology transformation project is supported by national policies encouraging upgrades in the liquor industry, with expected annual sales revenue of RMB 472.25 million and average annual net profit of RMB 66.10 million upon completion [8][13]. - The marketing system project aims to enhance the company's sales and customer service capabilities, thereby improving brand influence and market reputation [12][13]. Regulatory Compliance - The adjustments to the fundraising projects have been reviewed and approved by the company's board and supervisory committee, ensuring compliance with relevant regulations and safeguarding shareholder interests [15][16][17].