August 5 -- Gansu Huangtai Wine-Marketing Industry (000995) disclosed its plan to raise between 813 and 961 million yuan by issuing 55 to 65 million shares at 14.78 yuan per share in a private placement, reports the National Business Daily, citing a company filing. Huangtai Wine-Marketing’s largest shareholder Shanghai Houfeng Investment promised to subscribe 35 percent of the current issuing amount.

The funds raised will be used to acquire a 51- to 100-percent stake in Chengde Summer Resort, reportedly one of China’s top-50 largest white spirit producers and the largest alcohol producer in Hebei province. After the acquisition, Huangtai Wine-Marketing predicted its annual grain liquor production will increase from 10,000 tons to 30,000 tons and pure alcohol production capacity will grow from 30,000 tons to 100,000 tons.

Chengde Summer Resort posted a 46.43-percent year-on-year increase in 2010 net profit to 62 million yuan, with sales revenue of 958 million yuan in the same period, up 18.57 percent year-on-year. Sales revenue in the first quarter of 2011 reached 308 million yuan, with net profit of 15 million yuan.

Source:CapitalVue