Shulou(Shulou.com)11/24 Report--

CTOnews.com November 28 news, Phoenix Optics announced today that the company has decided to terminate the fund-raising investment projects "Automotive High-end Optical Lens Intelligent Manufacturing Project" and "High-end Optical Lens Intelligent Manufacturing Project", and intends to permanently replenish the working capital with the remaining raised funds and interest.

The announcement said that the plant construction of the two fund-raising projects has been completed and put into use, of which, the automotive high-end optical lens intelligent manufacturing project, lens production line investment has been basically completed; high-end optical lens intelligent manufacturing project in view of the changes in market customer demand, part of the production equipment related to capacity expansion has not been invested, but the main product process production chain has been basically completed.

Phoenix Optics pointed out that in recent years, the implementation of fund-raising projects has been continuously challenged by multiple factors, such as COVID-19 's epidemic situation, trade frictions, changes in the market environment, and planning for major asset restructuring.

On the one hand, through the continuous investment in the past three years, the manufacturing capacity of automotive high-end optical lenses and high-end optical lenses where the company's fundraising project is located has been significantly improved, which can meet the current business needs. On the other hand, with the fluctuation of the economic environment and the slowdown in the growth rate of the industry, the market demand for the products involved in the fund-raising projects has changed to a certain extent, and the termination of the investment projects is in line with the current market conditions. Relevant funds and resources can be used for other production and operation activities related to the company's main business.

To sum up, in order to further improve the efficiency of raising funds, optimize the allocation of resources, and reduce the company's financial costs, the company intends to terminate the automotive high-end optical lens intelligent manufacturing project, high-end optical lens intelligent manufacturing project, no further increase in investment.

CTOnews.com learned that Phoenix Optics is a manufacturer of integrated optical components and products with a history of more than 50 years. In recent years, Phoenix Optics has become an important domestic supplier of precision processing and optical components integrating R & D, design and manufacturing. Its main products include optical components, precision processing, optical instruments, and so on. Optical components are mainly used in the fields of security video surveillance, vehicle, infrared and machine vision; precision processing includes precision machining of metal structures and finishing of optical lenses, mainly used in cameras, projectors, vehicles and other fields; the main products of optical instruments are all kinds of optical microscopes, mainly used in general education, industry, research institutes and other fields.

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