On the evening of August 3, Hainan Rubber announced that it intends to extend the implementation period of the original special rubber plantation renewal planting project. It is estimated that the company can complete 323,200 acres of special rubber plantation renewal planting in 2025. At the same time, it is planned to terminate the tropical high-efficiency non-rubber agriculture project, and the remaining funds raised are planned to be used to permanently supplement working capital.
As of June 30, 2021, Hainan Rubber has invested a total of 561 million yuan in raised funds. It is mainly used for two promised fund-raising projects, namely the tropical high-efficiency non-glue agriculture project. It is planned to invest 716 million yuan in capital, 11.5062 million yuan has been invested, and the investment progress is 1.61%; the special rubber plantation renewal planting project is planned to invest 1.074 billion yuan in capital , 550 million yuan has been invested, and the investment progress is 51.18%.
According to the announcement, the company comprehensively considers the national industrial policy, production and operation environment, market factors, the company’s future development strategy layout adjustment and the actual construction of the fundraising project, etc., in order to comply with the national industrial and ecological environmental protection policies, and fully support national important strategies The company plans to effectively cooperate with the company’s business development and strategic layout, promote the sustainable and healthy development of the company’s main business, and at the same time improve the efficiency of the company’s use of raised funds and safeguard the interests of shareholders. The company plans to terminate the tropical high-efficiency non-plastic agriculture project.
At the same time, in accordance with the national natural rubber “14th Five-Year” production capacity construction plan and the company’s strategic development needs of “focusing on the main business”, Hainan Rubber intends to extend the implementation period of the original special rubber plantation renewal planting project, and to assess the construction scale and development of the project. The management scale and investment plan will be adjusted appropriately, that is, based on the completion of the renewal planting of rubber plantations of 218,200 mu in 2016-2020, it is planned to complete the renewal planting of rubber plantations of 105,000 mu in 2021-2025. The rubber plantation was replanted to 323,200 mu.