Securities code: 605167 securities abbreviation: Jiangsu Libert Inc(605167) Announcement No.: 2022-005 Jiangsu Libert Inc(605167)
Announcement on signing major contracts
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Contract type: design procurement modularization construction (epfc EPC project)
Contract amount: RMB 1278.72 million (excluding tax)
Conditions for effectiveness of the contract: the contract shall come into force after being signed and sealed by both parties
Contract performance period: January 28, 2022 to December 13, 2023
Impact on the company’s current performance: the contract signed this time is a daily operation contract. If the contract is successfully performed, it will have a positive impact on the company’s current and future performance.
Special risk warning: the contract has made clear agreements on the contract amount, payment method, performance period and other contents, and both parties have the ability to perform the contract. However, during the performance of the contract, there may be the risk that the contract cannot be performed on schedule or in full due to the influence of laws and regulations, industrial policies, market environment, accidents, force majeure and other unforeseen factors.
Shanghai Jiangsu Libert Inc(605167) Engineering Technology Co., Ltd., a wholly-owned subsidiary of Jiangsu Libert Inc(605167) (hereinafter referred to as “the company” and ” Jiangsu Libert Inc(605167) “), signed the general contract for phase III expansion project of NVIDIA polymer with NVIDIA nylon chemical (China) Co., Ltd. on January 28, 2022. The signing of this contract belongs to the daily business scope of the company and does not need to be submitted to the board of directors and the general meeting of shareholders for deliberation, The relevant information is hereby announced as follows: I. the subject matter of the contract and the other party
(I) subject matter of the contract
In order to meet the growing demand for nylon 6,6 polymer in the Chinese market, NVIDIA nylon chemical (China) Co., Ltd. invested in the third phase expansion project of NVIDIA polymer. The project plans to add three nylon 6,6 continuous polymerization production lines and two nylon 6,6 batch polymerization production lines, It also includes new salt forming devices and auxiliary facilities (heat transfer oil furnace and heat medium vaporization system, chilled water station, circulating water plant, organic wastewater tank, washing tower and auxiliary building, etc.). Considering the limitation of the construction site and the optimization of the project schedule, the company innovatively adopts the modular construction scheme, combines the traditional factory design with modular design, and provides integrated services for the project by relying on the advantages of the whole industrial chain of the company’s “design procurement modular construction” (epfc), This is Jiangsu Libert Inc(605167) the first time that modular technology has been applied to polymer projects.
Project Name: NVIDIA polymer phase III expansion project
Contract amount: RMB 1278.72 million (excluding tax)
Contract performance period: January 28, 2022 to December 13, 2023
Project location: No. 218, beiyinhe Road, Shanghai Chemical Industry Zone
(II) information of the other party to the contract
Customer Name: INVISTA nylon chemical (China) Co., Ltd
Enterprise type: limited liability company (wholly owned by foreign legal person)
Registered capital: 195.34 million US dollars
Legal representative: Gary Randolph Knight
Address: No. 88, Tianhua Road, Shanghai Chemical Industry Zone
Major shareholder: INVISTA (China) Investment Co., Ltd
Main business: production of hazardous chemicals; Operation of hazardous chemicals; Import and export of goods; Manufacturing of special chemical products (excluding hazardous chemicals); Manufacturing of basic chemical raw materials (excluding manufacturing of licensed chemicals such as hazardous chemicals); Sales of special chemical products (excluding hazardous chemicals); Sales of chemical products (excluding licensed chemical products), etc.
INVISTA is the world’s leading manufacturer of nylon, spandex, polyester and special chemicals. NVIDIA nylon chemical (China) Co., Ltd. has no relationship with the company and its holding subsidiaries. 2、 Main terms of the contract
Employer: NVIDIA nylon chemical (China) Co., Ltd
Contractor: Shanghai Jiangsu Libert Inc(605167) Engineering Technology Co., Ltd
Contract amount: RMB 1278.72 million (excluding tax)
Contract type: design procurement modularization construction (epfc EPC project)
Settlement method: the employer shall review the completion of the quantities according to the milestone nodes and pay the project settlement
Place of performance: No. 218, beiyinhe Road, Shanghai Chemical Industry Zone
Performance period: January 28, 2022 to December 13, 2023
Dispute resolution: both parties shall negotiate amicably. If the negotiation fails, they may submit an application for arbitration to China International Economic and Trade Arbitration Commission (CIETAC).
Conditions for effectiveness of the contract: the contract shall come into force after being signed and sealed by both parties
Time and place of contract signing: January 28, 2022, Shanghai
3、 Impact of contract performance on the company
1. The company focuses on the design and manufacture of industrial modules. This contract is the first time for the company to apply modular technology to polymer projects. Based on the required process use of the contract object, the company forms industrial modules through detailed design and manufacturing, and completes the project construction by implementing overall assembly on the construction site.
In view of the many advantages of the modular project construction method in the manufacturing process and the actual production of the project, and all walks of life are gradually applying the modular manufacturing method to realize the transformation of the project construction mode, the smooth undertaking and performance of this contract will play a positive role in the application of modular technology in the field of factory construction and help to consolidate the company’s market position, It is a milestone for the company to further develop and undertake the modular project of factory construction in the future.
2. The contract signed this time is a daily operation contract. If the contract is successfully performed, it will have a positive impact on the current and future performance of the company.
3. The performance of this contract will not affect the independence of the company’s business and will not rely on the other party of the above contract due to the performance of this contract.
4、 Risk analysis of contract performance
The contract has made explicit agreements on the contract amount, payment method, performance period and other contents, and both parties have the ability to perform the contract. However, during the performance of the contract, there may be the risk that the contract cannot be performed on schedule or in full due to the influence of laws and regulations, industrial policies, market environment, accidents, force majeure and other unforeseen factors, Please pay attention to investment risks.
It is hereby announced.
Jiangsu Libert Inc(605167) board of directors February 7, 2022
