On July 13th, Kingdomway released a feasibility analysis report for the use of funds raised through the issuance of convertible corporate bonds to unspecified parties. According to the Report, the total amount of funds to be raised will not exceed RMB 1.824 billion yuan (USD $250 million). The funds raised will be used for the construction of projects related to Coenzyme Q10, Calcium Pantothenate, Dextrose Anhydrous, and Inositol.
The Coenzyme Q10 expansion project is planned to invest RMB 320 million yuan (USD $44.6 million) to build a new Coenzyme Q10 fermentation workshop and add fermentation equipment. The Calcium Pantothenate project is planned to invest RMB 508 million yuan (USD $70.8 million) to add supporting engineering facilities and produce Calcium Pantothenate using microbial fermentation technology. The Dextrose Anhydrous and Inositol project is planned to invest RMB 537 million yuan (USD $74.8 million) to construct a workshop for the extraction process. (Source: shuzhengkangxun)
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