Moso Power Supply Technology Co.Ltd(002660)
And
Zhongtai Securities Co.Ltd(600918) about Moso Power Supply Technology Co.Ltd(002660)
Application materials for non-public offering of shares
Reply to secondary feedback
Sponsor (lead underwriter)
February, 2002
China Securities Regulatory Commission:
We have received the notice of the CSRC on the second feedback on the examination of administrative licensing projects (No. 212778) (hereinafter referred to as the "feedback").
Moso Power Supply Technology Co.Ltd(002660) (hereinafter referred to as " Moso Power Supply Technology Co.Ltd(002660) ", "issuer", "applicant" or "company") and Zhongtai Securities Co.Ltd(600918) (hereinafter referred to as "sponsor"), Zhitong Certified Public Accountants (special general partnership) (hereinafter referred to as "accountant") and Beijing Deheng Law Firm (hereinafter referred to as "issuer's lawyer") according to the requirements of feedback, The problems involved in the feedback have been carefully checked and implemented one by one. The reply is as follows. Please review it.
The abbreviation used in this feedback is consistent with the interpretation in the due diligence report.
The font in the response to this feedback represents the following meanings:
Font interpretation
Problems in bold feedback
Reply to feedback and verification opinions of intermediary institutions in Song typeface
Supplementary disclosure in bold italics
In the reply to this feedback, if there is any difference in the mantissa between the sum of the total and the sub item values, it is caused by rounding.
catalogue
Question 1 4 question 2 13 question 3 18 question 4 28 question 5 38 question 6 43 question 7 fifty-four
Question 1: impairment of assets related to photovoltaic power station business. The applicant classified the electricity charges receivable from the State Grid, the electricity subsidies receivable from the state finance, and the export tax rebates receivable from the photovoltaic power generation business as "a combination of receivables from government agencies", and did not withdraw bad debt reserves. At the end of each reporting period, the balance of these receivables was 31.5526 million yuan, 44.8978 million yuan, 57.8651 million yuan and 65.0352 million yuan. As of June 30, 2021, the original book value of the applicant's fixed assets of optoelectronic equipment was 296.44 million yuan, the impairment had been accrued 114.28 million yuan, and the book value was 122.41 million yuan.
The applicant is requested to: (1) specify the specific content and aging of the balance of accounts receivable by category; (2) Classify and explain the existing photovoltaic power station projects according to the national supplementary catalogue that has been entered, the eighth batch of national supplementary catalogue that has been declared, undeclared and parity projects; In combination with the relevant policies of the national development and Reform Commission and the Ministry of finance, explain whether there is a risk that the existing projects will not receive national subsidies; (3) Supplementary disclosure of assets and liabilities related to photovoltaic power station business, and analysis of whether there are further signs of impairment; (4) Whether the relevant risks have been fully disclosed in the prospectus.
The recommendation institution, the applicant's lawyer and the accountant are requested to conduct verification according to their respective responsibilities, explain the verification basis and process, and express clear verification opinions.
reply:
1、 Classify and explain the specific contents and aging of the balance of accounts receivable of photovoltaic power station
(I) balance and specific contents of accounts receivable of photovoltaic power station
The balance and details of accounts receivable of photovoltaic power station are as follows:
Unit: 10000 yuan
Specific contents September 30, 2021 December 31, 2020 December 31, 2019 December 31, 2018
State subsidy 6475.54 5772.13 4484.38 3087.48
Zhejiang provincial subsidy 27.98 14.38 5.40 10.30
Haining subsidy --- 57.48
Subtotal of electricity subsidy 6503.52 5786.51 4489.78 3155.26
Grid electricity charge 118.13 109.30 89.82 85.73
Owner's electricity charge 383.52 115.08 96.12 107.51
Total 7005.17 6010.89 4675.73 3348.50
Note: the question mentioned that "the balance of such accounts receivable at the end of each reporting period is 31.5526 million yuan, 44.8978 million yuan, 57.8651 million yuan and 65.0352 million yuan" refers to the part of the electricity subsidies paid by the state finance in the accounts receivable portfolio of the company's government agencies, including the state subsidies, Zhejiang subsidies and Haining subsidies in the above table; In addition, the company's government agencies should
The payment portfolio also includes the grid electricity charge, but does not include the owner's electricity charge.
(II) aging of accounts receivable of photovoltaic power station
Unit: 10000 yuan
Time item accounts receivable within 1 year 1-2 years 2-3 years 3-4 years 4 years and above balance
State subsidy 6475.54 1694.55 1664.36 991.99 1377.02 747.63
In 2021, Zhejiang Province subsidized 27.98 27.98 - September 30 power grid electricity charge 118.13 - Daily owner electricity charge 383.52 383.52 --
Total 7005.17 2224.18 1664.36 991.99 1377.02 747.63
State subsidy 5772.13 1601.16 1274.44 1439.59 1456.95-
Subsidy of Zhejiang Province in 2020: 14.38 - power grid electricity charge on December 31: 109.30-
Daily electricity charge of the owner 115.08 ----
Total 6010.89 1839.91 1274.44 1439.59 1456.95-
State subsidy 4484.38 1403.02 1526.77 1554.59 --
In 2019, Zhejiang Province subsidized 5.40 5.40 - December 31 power grid electricity charge 89.82 - Daily owner electricity charge 96.12 96.12 --
Total 4675.73 1594.36 1526.77 1554.59 --
State subsidy 3087.48 1532.08 1555.40 ---
Subsidy of Zhejiang Province 10.30 10.30 - subsidy of Haining City in 2018 57.48 57.48 - grid electricity charge on December 31
Day 85.73 85.73 -- owner's electricity charge 107.51 107.51 ---
Total 3348.50 1793.10 1555.40 ---
2、 According to the items that have entered the national supplementary catalogue, have applied for the eighth batch of national supplementary catalogue, have not been applied for and are at par
Items, etc., indicating the status of existing photovoltaic power station projects by category; In combination with the relevant policies of the national development and Reform Commission and the Ministry of finance,
Explain whether there is a risk that the existing projects will not receive national subsidies.
(I) according to the entered national supplementary catalogue, the eighth batch of national supplementary catalogue, undeclared and parity
Projects, etc., and describe the stock of photovoltaic power station projects by category
As of the signing date of the reply to this feedback, the issuer's subsidiaries Haining maoshuo, Xinyu maoshuo and Pingxiang maoshuo are involved in photovoltaic power generation business. The three photovoltaic power station projects have entered the national supplementary catalogue, and there is no application for the eighth batch of national supplementary catalogue, undeclared or parity projects. The details are as follows:
No. name of power station project type of power station grid connection time included in subsidy catalogue and subsidy obtained
When the 15MW micro power station in Haining science and technology park is put on record, it will be included in the catalogue of additional fund subsidies for distributed energy price of the Sixth Batch of renewable 1 power grid system Cecep Solar Energy Co.Ltd(000591) power station project on December 31, 2014, and the subsidies will be paid normally on an annual basis.
On August 31, 2020, it was officially included in the list of centralized energy generation subsidy projects for the third batch of renewable 2 jiabian 20MW photovoltaic power generation projects of Hejia power grid in Xiacun Town, Yushui District, maoshuo, Guoxin Yu on December 31, 2016, The first subsidy was obtained in December 2020.
