August 27, Rainbow shares announced that as of June 30, 2021, "increased capital rainbow (Hefei) LIQUID Crystal Glass Co., LTD., the construction of 8.5 generation LIQUID crystal substrate glass production line project" has invested a total of 100,7232,900 yuan raised, investment progress of 21.51%.
Do not meet the schedule for the project, the main reasons for the rainbow shares, said after the raise funds in place, because the liquid crystal panel industry in the downward cycle of industrial development, industry competition is intense, the LCD panel prices lower than forecast, as main raw materials of LCD LCD substrate glass market outlook has certain uncertainty, Rainbow shares according to the liquid crystal substrate glass market prospects moderately delayed the project investment progress.
Specific arrangement: According to the actual construction situation of the current raised project, considering various factors such as the company's development plan and internal and external environment, Caihong Stock decided to postpone the completion date of the project of "increasing investment in Caihong (Hefei) LCD Glass Co., LTD., building 8.5 generation LCD substrate glass Production line project" to the first half of 2023.
