Knitting machine at China Taisan. Photo: CompanyThis encouraging surge in orders demonstrated a strong turnaround from the business conditions over the previous two quarters where the order book had been below RMB80 million.
The response to our new products is also encouraging as our 3 new products contributed about 15% of the above-mentioned order book. The positive market response of these new products validated the Group’s strategy to continue its R&D effort.
Full announcement here.
CHANGJIANG FERTILISER HOLDINGS, an established coal-based fertilizer producer of nitrogenous fertilizer in Hunan Province, China, successfully completed the compliance placement of 84,400,000 ordinary shares (comprising 60,000,000 new shares and 24,400,000 vendor shares) at a price of S$0.29 per share. The aggregate value of the compliance placement is S$24.5 million. The new shares and vendor shares will represent approximately 16.7% and 6.8% of the issued and paid-up capital of the Group, respectively.
Changjiang Fertilizer’s Executive Chairman and CEO, Mr Zhu Cheng Bao (“朱成保”) believes that China’s fertilizer industry remains a bright spot in the near term, saying that “the demand for nitrogenous fertilizer and ammonia solution in the Dongting Lake Plains will increase due in part to the implementation of the ‘Zhongyang Sannong’ policies (“中央三农政策”) by the PRC government and the continued emphasis on commercial agricultural production.
"As such, in the near term, we anticipate that the supply of nitrogenous fertilizer and ammonia solution would not keep up with the increase in demand from the markets we serve.”
Full announcement here.