On the evening of November 2, HNHX Advanced Materials Technology Group, a leading manufacturer of ultra-fine diamond wires and alloy-coated (zinc) steel wire strands in China, issued an announcement:
The company intends to privately issue company shares to no more than 35 specific objects, and raise no more than 638 million yuan for prestressed steel strand reconstruction and expansion projects, 200,000 tons of prestressed steel strand projects and alloy coating (zinc) Steel wire and steel strand reconstruction and expansion project.
About HNHX
Founded in 1991, HNHX is a key high-tech enterprise of China's National Torch Program and a listed company in China. It has 13 wholly-owned (holding) subsidiaries and currently has more than 3,600 employees. At the end of 2018, the company's total assets were 5.488 billion yuan, and sales revenue was 3 billion yuan.
The company mainly produces steel cords for radial tires, galvanized steel strands, PC steel strands, hose wires, and ultra-fine diamond wires.
Products are widely used in automobile tires, rubber hoses, power cables, overhead power lines, high-speed railways, ports, silicon wafer cutting for photovoltaic solar energy and other industries. They belong to the new materials and new energy fields in China's seven strategic new industries.
The company currently has 4 physical manufacturing bases, 11 steel cord production lines with advanced technology, 20 galvanized steel wire, steel strand production lines and 6 PC steel strand production lines, which can produce more than 40 specifications in 6 categories The product, with an annual output of 450,000 tons of special steel wire products, is a leading enterprise in China's metal product industry segmentation. The company`s steel strand products have been inspected by Shanghai Cable Research Institute and China National Hydropower Materials Corporation as special products for the Three Gorges Power Transmission, West-East Power Transmission and Super Large Projects, and participated in the formulation of the "Overhead Stranded Galvanized Steel Thread", "Wire for Reinforcement of Rubber Hose" national standards.