Gelonghui (600540.SH) announced that the company plans to change the original raised investment project "Hubei Xindai Agricultural products Logistics Co., Ltd., Phase II expansion Project" to "Annual processing of 200000 tons of cottonseed protein concentrate and intensive processing Project". Part of the original fund-raising investment project "Huocheng Keli Coal Logistics and Distribution Co., Ltd. Special line expansion project" will be used as a "repayment of headquarters bank loan project", with an amount of 36 million yuan, and the rest of the raised funds will not be changed. The total amount of funds raised by this change is 162.1536 million yuan, accounting for about 29.26% of the net funds actually raised.
The time when the new project is expected to be put into normal production and generate revenue: (1) the annual processing of 200000 tons of cottonseed protein concentrate and intensive processing project is expected to be officially put into production in October 2023. (2) the project of repaying the bank loan from the headquarters can be completed within a short period of time after completing the procedures for changing the funds raised.
