optimize the capital structure wind turbine bearing possible.

In recent years, the Northwest bearing liabilities has been running at a high state. As of December 31, 2013, the company's gearing ratio was 73.86%, current ratio was 0.98, quick ratio was 0.66. Higher debt levels, making certain the Northwest bearing debt risk. Recent taper roller bearing Northwest bearing non-public offering plan, will allow the company to reduce debt levels, optimize the capital structure possible.
Northwest bearing release of "non-public offering of A shares plan" and a major shareholder of petrochemical Thin section bearing pagoda released "acquisition report" shows that the price the company will be 4.81 yuan / share issuance stone pagoda directed to 124,740,125 shares, raising wind turbine bearing total funds 60,000.00 million. Net of issuance costs, giving priority to investment projects of high-end bearings 40,000.00 million surplus does not exceed 20,000.00 million used to supplement working capital.
The company said, assuming that the non-public issue of the successful completion of the program, the largest shareholder after 600 million fund in place, not only the company's asset-liability ratio will significantly reduce the current ratio and quick ratio will be Wind turbine bearing significantly improved, can effectively improve the ability to resist risks, as the company's long-term steady development and lay a solid foundation. At the same time, raised $ 400 million in gold investments for the construction of the bearing industry, "second Five Year Plan" key recommendation of the product categories, including petrochemical equipment bearings, bearing metallurgical equipment, mining machinery and equipment bearing as the representative of large bearings to high-end motor bearings are precision bearings representative to subway cars, as represented Bahn rail vehicle bearing. Implementation of the project can significantly improve the company's profitability, and achieved good social benefits.