Boshen Tools: Or will build a diamond tool research and development base in South Korea

On October 28, Boshen Tools announced that it plans to issue 25.32 million shares to three specific targets, including Shijiazhuang Bozhi Investment Co., Ltd., Chen Zhe and Yan Fabin. The issue price is 9.83 yuan/share, and the estimated funds raised are 248,896,600 yuan, all of which are used for Repay bank loans and replenish liquidity.

The participation of major shareholders in the increase will demonstrate confidence in the company's future development. Among the three issue targets, Bozhi Investment is a company jointly invested by the company's second to fifth major shareholders, Lu Guiqin, Cheng Hui, Ren Jingjian and Zhang Shuyu, to subscribe for 18 million shares; Chen Zhe is the largest shareholder and director of Boshen Tools The son of Chen Huairong, who subscribed for 7 million shares; Yan Fabin was the company's director and general manager, and subscribed for 320,000 shares. The participation of the controlling shareholder and actual controller of the company in this subscription shows its confidence in the future development of the company.

In the future, the company will expand its high-end products for diamond tools. Due to the slowdown in domestic infrastructure and real estate investment, downstream demand for diamond tools continues to be sluggish. In the future, the company needs to break through the development bottleneck by developing high-end products. The company plans to build a high-end diamond tool R&D base in South Korea. While maintaining the advantages of the general tool series, it will enter the high-end product application field and expand the downstream professional market segment. In the next step, the company will complete the application experiment and certification of high-speed railway brake pads, increase the investment in research and development of pre-alloyed powder manufacturing technology and research and development of power tool products, and carry out research and development and large-scale production of diamond tooling projects for metal processing. The research and development of new projects and new products promotes the company's transformation and upgrading to high-end product manufacturing.

The overseas market will become the main growth point of the company's performance. From 2011 to 2013 and January-September 2014, the company's overseas sales accounted for 36.88%, 41.31%, 48.11% and 48.93% of the company's operating income, respectively, maintaining an upward trend; overseas sales growth rate since 2012 Significantly ahead of domestic sales growth, leading in 2012 and 2013 by 18.07 percentage points and 29.77 percentage points respectively. The company currently has R&D and manufacturing bases in Thailand, Canada and other countries. It has two sales subsidiaries in the United States. The overseas sales network has basically taken shape. In the future, the company will further increase its overseas market share by meeting the individual needs of overseas customers.

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