On the evening of the 15th, Zhang Koizumi disclosed the letter of intent for offering, and issued 39 million shares to the public, all of which were new shares to the public, without arranging the transfer of old shares.
Zhang Koizumi said that after the public offering, the total share capital of the company was 156 million shares, accounting for 25% of the total share capital of the company after the public offering. The initial strategic placement issued 5.85 million shares, accounting for 15% of the issued number. The fund-raising scale will reach 35.919 million yuan.
According to public information, the Zhang Koizumi brand was founded in the first year of Chongzhen of the Ming Dynasty (1628 AD) and has a history of nearly 400 years. In September 2008, Zhang Koizumi Group invested in the establishment of Zhang Koizumi industry. In May 2018, Zhang Xiaoquan industry was changed into a joint stock limited company, integrating the design, R & D, production, sales and service of modern living hardware products.
There are three projects raised and invested this time, namely Zhang Xiaoquan Yangjiang knife and scissors intelligent manufacturing center project, enterprise management information transformation project and supplementary working capital. If the raised funds are less than the project fund demand, the fund gap shall be raised by Zhang Xiaoquan.
Is Zhang Koizumi short of money? According to the consolidated balance sheet, as of December 31, 2020, Zhang Koizumi’s current assets totaled 349 million yuan, including 186 million yuan in monetary funds.
Zhang Koizumi prospectus
In terms of inventories, in 2018, 2019 and 2020, the book values of inventories were 81.5178 million yuan, 112.4566 million yuan and 108.1828 million yuan respectively, accounting for 31.86%, 37.51% and 30.99% of current assets respectively.
Zhang Xiaoquan said that the company’s inventory is large and accounts for a high proportion of current assets. The balance of provision for falling price was 690500 yuan, 1370500 yuan and 2564400 yuan respectively. The company’s inventory is mainly goods in stock, which is mainly the inventory prepared by the company according to the forecast of market demand.
In this regard, Zhang Koizumi also pointed out the risk, saying that if the company’s prediction of market demand deviates significantly or customers are unable to execute orders, resulting in the above inventory not being sold at the normal price, it may lead to a significant increase in the company’s inventory falling price loss and an adverse impact on the company’s operating performance.