Weichai Power plans to issue 2.7 billion medium-term notes

Weichai Power (27.41, 0.58, 2.16%) (000338) announced today that the company intends to apply for public issuance of medium-term notes in the national interbank bond market. The proposed issuance size is not more than RMB 2.7 billion and the proposed issuance period is five years. The interest rate is determined by market pricing and is intended to be underwritten by China Merchants Bank (12.33, 0.07, 0.57%). The issuance method is the balance underwriting, and the redemption method is annual coupon and maturity repayment. The funds to be raised will be used to supplement the company's interim liquidity, repay the company's borrowings, improve the company's debt structure, and other expenses permitted by the provisions of the medium-term notes.

The company also announced that it has entered into daily related-party transaction agreements or supplementary agreements with related parties. It is expected that the total amount of continuing connected transactions of the company's headquarters in 2008, 2009, and 2010 will be approximately RMB 2.2 billion, RMB 3.8 billion, and RMB 4.5 billion respectively. The total amount of continuing related party transactions of other subsidiaries in 2008, 2009, and 2010 are capped at approximately 3.8 billion yuan, 4.6 billion yuan, and 5.5 billion yuan respectively.

Machining Steel

Machining Steel is the use of CNC machining out,and the machining services including drilling, boring, cutting,meatl bending/metal bending, machining Steel Product material: carbon steel, 20#, 45#, A3, Q235,35Cr2MnMo and other series. In the high-speed machining out of the workpiece has a good finish. But machining Steel of the workpiece is easy to rust, so it will do heat treatment, surface nickel plating, chromium plating, surface black heat treatment, etc.. We have a special inspection department to carry out inspection, ensure the material aging hardness and each size to meet the requirements of the drawings, including the machining steel parts application in various industries: automotive, marine, communications, medical equipment, industrial automation equipment.Except them,we supply the sheet metal operations.

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