Sifangda announced today that it has two industrial construction projects with a total investment of more than 200 million yuan. The company said it plans to use the over-raised funds of RMB 132 million to invest in the construction of polycrystalline diamond compact (PDC) picks and downhole drill bit industrialization projects. The project will have an annual production capacity of 668,000 PDC picks and an annual production capacity of 25,000 PDC DTH drill bits. The project period is 1.5 years, including one year of construction period, and the project will be accepted and put into operation in December 2012. After the project is put into production, the year The average sales income was 349 million yuan, the annual average profit was 839.646 million yuan, and the internal rate of return (after tax) was 37.57%. At the same time, the company will also use the over-raised funds of 92.039 million yuan to invest in the construction of PCD/PCBN composite sheet metal cutting project. The project will build a new PCD/PCBN composite sheet production line for metal cutting, forming an annual production capacity of 53,000 pieces of PCD/PCBN composite sheets for metal cutting. The project period is 1.5 years, of which the construction period is 1 year. In December 2012, the project was accepted and put into production. The annual average sales income of the project is 74.256 million yuan, the annual average profit is 41.937 million yuan, and the internal rate of return (after tax) is 33.51%. The company's first-half annual report disclosed today showed that the operating income during the period was 52.564 million yuan, a year-on-year increase of 8.83%, and the net profit was 18.15.53 million yuan, a year-on-year increase of 7.06%. Click to download: Announcement of Henan Sifangda Superhard Materials Co., Ltd. on the use plan of super-raised funds
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