Shandong Fiberglass issuing convertible bond not more than 600 million has been approved by SASAC

Shandong fiberglass Co. Ltd (short for Shandong Fiberglass hereinafter) revealed that the company has received <The approval for Shandong Fiberglass to issue convertible bond> from state commission of capital management and supervision, which in principle agreed the plan that Shandong Fiberglass issues the convertible bond not more than 600 million yuan on A stock market.
 
Shandong Fiberglass is a state holding joint stock company which established in the year 2013, positioned in Qishui Shandong province.  The company mainly engage in fiberglass materials researching, producing and selling, at the same time supplying the thermoelectric products in Qishui Shandong province. According to its year’s report of 2020, its fiberglass business achieves income 12,7519.15 Yuan, accounting for 84.71% of total company’s income.
 
According to the plan of Shandong Fiberglass issuing convertible bond, this time the company’ s financing capital will be used to the project of yearly production capability 100 thousand tons high performance fiberglass materials. This company has been producing fiberglass chopped strand mat, fiberglass direct and assemble roving, woven roving, and all kinds of fabrics.