At the second extraordinary general meeting of shareholders of Chongqing Sokon Industry Group Stock Co.Ltd(601127) 2022 held on the afternoon of February 11, a series of proposals on the company’s non-public offering of A-Shares were highly recognized by the participating shareholders. All the proposals were considered and passed by more than 99% of the votes, and the approval rate of minority shareholders below 5% was as high as more than 97%, indicating that the market is optimistic about the prospect of the company’s high-end intelligent new energy vehicles, And support the company to further expand and strengthen through refinancing in the capital market.
It is understood that due to the changes in the global economy and capital market, the company decided to suspend the process of H-share issuance and listing launched in November last year after careful consideration; At the same time, it is planned to raise no more than 7.13 billion yuan in the A-share market, invest in “electric vehicle development and product platform technology upgrading project”, “factory intelligent upgrading and electric drive production line construction project”, “user center construction project” and supplement working capital.
Niu Yang, an analyst at Hualong securities, believes that the current performance of the Hong Kong stock market is relatively sluggish, and the breaking of new shares has occurred frequently. If the H shares are strongly pushed, it may cause more dilution of the rights and interests of old shareholders. The A-share market as a whole is relatively stable, which is more conducive to providing a relatively loose financing environment for enterprises.
According to the person in charge of the company, the AITO brand and Thalis brand electric vehicles under Xiaokang have begun mass production and achieved good market influence. In addition, relying on its many years of experience in marketing network construction and consumer electronics sales channels fully grafted with partners, the company will cooperate with the sales planning of new products to establish a competitive sales service network to provide a strong guarantee for future development.
Through the implementation of this fund-raising project, the company will continue to increase R & D investment. In addition to upgrading existing models and developing more new product lines, it will also develop a new generation of model platform with more compatibility and expansibility to better support vehicle products; And carry out forward-looking technology research and development around the development trend of new energy vehicles. In terms of process quality improvement, advanced automation, information production and testing equipment at home and abroad, such as visual inspection system, will be introduced in Liangjiang factory and Phoenix factory to build an efficient and high-power density electric drive and high flexibility production line, so as to further improve the automatic production level and product competitiveness.
The latest production and sales express shows that in January 2022, Chongqing Sokon Industry Group Stock Co.Ltd(601127) new energy vehicles produced and sold 5499 and 3520 respectively, with a significant year-on-year increase of 348.17% and 176.08% respectively.
