Securities code: 300707 securities abbreviation: Vt Industrial Technology Co.Ltd(300707) Announcement No.: 2022-010 bond Code: 123088 bond abbreviation: Weitang convertible bond
Vt Industrial Technology Co.Ltd(300707)
Announcement on the signing of investment intention agreement by the company
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Special tips:
1. The investment intention agreement signed this time belongs to the framework and intention agreement of the cooperation intention and basic principles of both parties. This agreement of intent serves as the basis for the company to carry out preliminary work. The implementation of the project needs to be signed after the company’s on-site investigation, policy permission, project feasibility analysis and demonstration, further negotiation between the two parties, and according to the amount of the agreement, according to the relevant rules of Shenzhen Stock Exchange and the articles of association.
2. There are uncertainties in the implementation of the intention and the performance of subsequent agreements, including but not limited to the performance ability of both parties, market, policy, law and so on. The company will timely perform the obligation of information disclosure according to the progress of the matter and the provisions of relevant laws, regulations, normative documents and the articles of association. Please invest rationally and pay attention to investment risks.
1、 Basic information of intention agreement
1. Basic information of signing the agreement of intent
Vt Industrial Technology Co.Ltd(300707) (hereinafter referred to as the “company” and ” Vt Industrial Technology Co.Ltd(300707) “) and the people’s Government of Qingcun Town, Fengxian District, Shanghai signed the investment intention agreement between Vt Industrial Technology Co.Ltd(300707) and the people’s Government of Qingcun Town, Fengxian District, Shanghai (hereinafter referred to as the “intention agreement”) on January 29, 2022, The company plans to purchase appropriate industrial land use rights or lease appropriate industrial housing carriers in the administrative area of Qingcun Town, Fengxian District, Shanghai, and set up new subsidiaries. The proposed project is a new production capacity project of core parts of new energy vehicles.
This agreement is only a framework and intentional agreement. This intention agreement serves as the basis for the company to carry out preliminary work. The formal agreement needs to be further negotiated by both parties after the company’s on-site investigation, policy permission and project feasibility analysis and demonstration, and the corresponding review shall be performed in accordance with the relevant rules of Shenzhen Stock Exchange and the articles of Association, depending on the amount of the agreement
Sign after discussing the procedure.
2. Basic information of intended signatories
The people’s Government of Qingcun Town, Fengxian District, Shanghai is a state administrative organ and has no relationship with the company and its controlling shareholders, actual controllers, directors, supervisors and senior managers.
2、 Main contents of the agreement of intent
Party A: People’s Government of Qingcun Town, Fengxian District, Shanghai
Party B: Vt Industrial Technology Co.Ltd(300707)
Party B intends to purchase appropriate industrial land use rights or lease appropriate industrial housing carriers in Party A’s administrative area and set up new subsidiaries. The proposed project is a new production capacity project of core parts of new energy vehicles. Party A encourages Party B to continue to develop in Qingcun town and grow together with Qingcun town to form a higher-end auto parts industry cluster. Both parties cooperate to urge Party B to complete administrative procedures such as industrial and commercial registration, entry review and environmental impact assessment. At the same time, Party A agrees to fully assist Party B in striving for and implementing preferential policies from Shanghai Fengxian District People’s government.
1. Establishment of the project company
Party B will actively promote the proposed project as a new production capacity project of core parts of new energy vehicles through the establishment of new subsidiaries by Party B in Party A’s administrative area; The project company will be settled in the administrative region where Party A is located, and the “three places in one” of “industry and commerce, taxation and operation” will be realized.
2. Government communication assistance
Party A agrees to assist Party B in communicating with relevant government agencies from project access to landing, including but not limited to Shanghai Fengxian District People’s government, market supervision and administration agency, ecological environment bureau and local tax authorities, and fully cooperate with Party B’s new subsidiary.
3. Resource reservation and expansion space reserve
Party A agrees to match various types of industrial housing carriers for Party B as much as possible, and provide resource reservation and reserve; The final planned total investment shall be determined after Party B performs the review procedures according to the internal decision-making system.
3、 Impact on the company
The intention agreement signed by the company with the people’s Government of Qingcun Town, Fengxian District, Shanghai aims to make full use of the company’s own technical advantages and the local policies, environment, resources and other advantages of Qingcun Town, Fengxian District to jointly promote the company’s construction of new energy vehicle core parts production capacity project on the basis of equality and mutual benefit; The proposed construction project is conducive to improving the company’s production capacity of core parts of new energy vehicles, meeting the growing demand of the downstream market, providing a new growth fulcrum for the company’s future performance and driving force for the company’s sustainable development, which is in line with the company’s overall strategic planning and the interests of all shareholders.
The investment intention agreement signed this time belongs to the framework and intention agreement of the cooperation intention and basic principles of both parties. There is still uncertainty in the execution and implementation of the agreement of intent, which does not have a significant impact on the current operating performance and financial status of the company, and the impact on the long-term development of the company depends on the promotion and implementation of subsequent specific projects.
4、 Risk tips
The investment intention agreement signed this time belongs to the framework and intention agreement of the cooperation intention and basic principles of both parties. The intention agreement serves as the basis for the company to carry out preliminary work. The implementation of the project still needs to be further negotiated by both parties after the company’s field investigation, policy permission, project feasibility analysis and demonstration, and depending on the amount of the subject matter of the contract, Sign after deliberation and approval in accordance with the decision-making procedures of listed companies.
The proposed investment and construction project is the company’s medium and long-term project planning in the future, which will be implemented by stages and sections according to the follow-up progress and market environment. It is expected that the overall construction cycle is long, it is difficult to form economies of scale in a short time, and other relevant uncertain factors may still exist in the process of project construction.
There are uncertainties in the implementation of this investment intention and the performance of subsequent agreements, including but not limited to the performance ability of both parties, market, policy, law and so on. The company will timely perform the obligation of information disclosure according to the progress of the matter and the provisions of relevant laws, regulations, normative documents and the articles of association.
Please invest rationally and pay attention to investment risks.
5、 Documents for future reference
Agreement on investment intention between Vt Industrial Technology Co.Ltd(300707) and the people’s Government of Qingcun Town, Fengxian District, Shanghai.
It is hereby announced.
Vt Industrial Technology Co.Ltd(300707) board of directors February 7, 2022
