## Happy International has a 20% discount to raise $350 million for blood transfusion transition.
On the evening of March 10, 2026, Happy International issued a fixed increase plan to target the Ningpole-win partnership, which actually controls people, with an increase of no more than 350 million yuan, issuing a price of $20.92/equity, about 20% of the market price discount, and raising all funds to replenish liquidity and repay bank loans. This contrasted sharply with its slow progress on its previous fund-raising project, reflecting the pressure on and determination of company management to change in the critical period of transition. However, it is worth noting that out of the $446 million pledged by Happy International in 2021, about $109 million remains unused, and multiple projects are significantly delayed, with some of the fresh projects expected to be completed by 2027. From 2022 to 2024, corporate revenues increased from $1,204 million to $1,490 million, but slowed to 0.55 per cent in the third quarter of 2025. During the same period, net return earnings continued to be under pressure, reaching only $33.606 million in the first three quarters of 2025, a 17.10 per cent decline in the same quarter, with net profits falling by 56.51 per cent during the third season. The firm’s long-term asset-liability ratio, which stood at over 60 per cent, reached 62.97 per cent by September 2025. Faced with financial constraints, the firm clearly pointed to additional liquidity and deleveraging, indicating an urgent need for optimization of its financial structure. After a successful 2021 surge, the company continued to build 30 km of fresh branding, but its operations were less effective than expected. The loss of $75,278.8 million in 2024 was the main cause of overall performance, with net profit of $2.919 million being realized for the first time in the first half of 2025. The project extensions announced in March 2025 showed that many of the projects had been slow: the actual investment of only $9.618.7 million in the planned $246 million had been effectively terminated on that day; the expansion of the operation of the fresh beer machine had been halted; and the progress of the urban plant projects of Wuhan, Kunming and Changchun had been uneven. Faced with the twin dilemmas of inefficient use of previous fund-raising and insufficient profitability of the main business, Happiness International has been involved in fixing the increase through hands-on discounts aimed at offering capital markets valuable time and resource space for a transformational surge. The beer-breeding market penetration rate is currently only 3%, and there is still much room for growth in comparison with the Euro-American market, but companies need to balance market expansion with cost control.
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- **Source**: 乐惠国际
- **Sector**: The Vault
- **Tags**: 乐惠国际, 定增, 精酿啤酒, 鲜啤30公里, 资本市场, 转型, 债务融资
- **Credibility**: unverified
- **Published**: 2026-03-27 08:57:11
- **ID**: 37192
- **URL**: https://whisperx.ai/en/intel/37192