On November 18th, Linglong Tire (601966) announced that the company plans to issue 63.798 million additional shares at a price of 31.21 yuan per share. The raised funds of 1.99 billion yuan will be used to build Jingmen's annual production of 8 million sets of semi-steel and 1.2 million sets of all-steel high-performance tires and supplement working capital after deducting issuance fees.
　　Jingmen base is Linglong Tire's fourth domestic production base after Zhaoyuan, Dezhou and Liuzhou. The fund-raising project is a preliminary project of "Jingmen Annual Production of 14.46 million sets of high-performance tires and supporting engineering projects". It is expected that all civil engineering construction and production equipment installation will be completed in May 2021, and the initial goal of the planning and construction of the Jingmen base will be reached. .
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