catalogue
1、 About the previous raised investment project Page 1-12 II. About this raised investment project Page 12-34 III. necessity of financing Page 34-46 IV. financial investment Page 46-53 v. inventory and prepayment Page 53-64 VI. about solvency Page 64-66 VII. Others Page 66-74
About Autel Intelligent Technology Corp.Ltd(688208)
Application documents for issuing convertible corporate bonds to unspecified objects
Notes on financial matters in the audit inquiry letter
TJH [2022] No. 115
Shanghai Stock Exchange:
We have received the inquiry letter on the examination of Autel Intelligent Technology Corp.Ltd(688208) application documents for issuing convertible corporate bonds to unspecified objects (szkss (refinancing) [2021] No. 119, hereinafter referred to as the inquiry letter) transferred from Citic Securities Company Limited(600030) . We have carefully checked the financial matters of Autel Intelligent Technology Corp.Ltd(688208) (hereinafter referred to as Autel Intelligent Technology Corp.Ltd(688208) or the company) mentioned in the inquiry letter, and now report as follows. The abbreviations of all companies involved in this note are consistent with the notes of Autel Intelligent Technology Corp.Ltd(688208) prospectus, and there may be slight differences between the aggregate and aggregate data of individual data in some tables, which are caused by rounding in the calculation process. 1、 About the previous raised investment project (question 1 of the inquiry letter)
According to the application documents, (1) the company reviewed and approved the proposal on changing the implementation location of some raised investment projects on December 8, 2020, and changed the implementation location of " Autel Intelligent Technology Corp.Ltd(688208) Xi'an Northwest headquarters base and R & D center construction project" (hereinafter referred to as project I) to the central Innovation Zone of Xi'an high tech new area; (2) On June 28, 2021, the company deliberated and passed the proposal on changing some raised investment projects, implementation subjects and implementation locations, changing the raised investment project I to " Autel Intelligent Technology Corp.Ltd(688208) Xi'an R & D center construction project" (hereinafter referred to as Project II) and " Autel Intelligent Technology Corp.Ltd(688208) new energy product R & D project" (hereinafter referred to as project III). The implementation cycle of Project II is proposed to be extended to 4 years; (3) The implementation subject of "automobile intelligent diagnosis cloud service platform construction project" (hereinafter referred to as project IV) was changed from daotong hechuang, a wholly-owned subsidiary of the company, to daotong Xi'an, a wholly-owned subsidiary of the company, and the implementation location was changed from Shenzhen to Xi'an, Shaanxi Province.
The issuer is requested to explain: (1) the specific circumstances and reasons for changing the implementation content, implementation cycle and project amount of project I; (2) The implementation progress and overall schedule of each project after the change, and whether the fourth project meets the schedule
Available status and estimated time to realize benefits; (3) The new location has obvious regional advantages, but it is not completely full
The reasons for the company's project land demand, the relevance between Project II and project III, and the implementation cycle of Project II
The reason and rationality of the proposed four-year extension, the implementation content, specific products and implementation location of project III, and the actual situation
Whether the main production and operation places of the construction subject are consistent; (4) Sites and equipment provided at the changed implementation site
And whether the personnel meet the needs of project IV.
Please report to the accountant for verification and express clear opinions.
（1） Change the implementation content, implementation cycle and project amount of project I and the reasons
On December 8, 2020, the fifth meeting of the third board of directors and the fifth meeting of the third board of supervisors of the company
The proposal on changing the implementation location of some raised investment projects was reviewed and approved, and the implementation location of project I was improved
Line change. On June 28, 2021, the ninth meeting of the third board of directors and the ninth meeting of the third board of supervisors of the company
The meeting deliberated and adopted the proposal on changing some raised investment projects, implementation subjects and implementation locations, which will be
Item 1 is changed to Item 2 and item 3, of which item 2 is implemented by Xi'an daotong and is located in Xi'an city
High tech Zone, the implementation cycle is 4 years; The third project is jointly implemented by daotong and is located in Nanshan District, Shenzhen,
The implementation cycle is 2 years.
The details of project I changed twice by the company are shown in the table below:
The first change and the second change of the original plan of the project
Project name Autel Intelligent Technology Corp.Ltd(688208) Xi'an Northwest headquarters base and R & D Autel Intelligent Technology Corp.Ltd(688208) Xi'an R & D center Autel Intelligent Technology Corp.Ltd(688208) new energy product R & D center construction project (project I) construction project (Project II) project (project III)
Implementation subject: Xi'an daotong Xi'an daotong co creation
The company's business scale continues to expand, but in Shenzhen, the company plans to purchase and research global new energy vehicles in Xi'an. The site scale is limited. In order to ensure the development site of production and operation, the company plans to actively layout stability in order to improve the existing intelligent diagnosis. The company urgently needs to build its own production base analysis system, The post market of new energy vehicles should grasp the implementation content. The company has purchased land in Xi'an and plans to build and carry out research and development of digital maintenance information technology maintenance, maintenance, charging and discharging production, storage workshop and relevant supporting auxiliary equipment, so as to improve new opportunities in the fields of maintenance and digitization, provide new facilities, introduce advanced production equipment, etc., and build an intelligent level in Xi'an, Promote the advanced products and services of maintenance technology in the aftermarket of industrial safety northwest headquarters base and R & D center related to automobile energy charging and discharging system
2-year implementation cycle
Reason for change government land planning adjustment government land planning adjustment again
The project amount is 556.0964 million yuan, 342.6544 million yuan and 213.442 million yuan
Land use: land purchase and self construction lease first and then purchase real estate lease implementation
Xi'an high tech Zone
Jing20, south of dongdou Road, high tech Zone, Xi'an
North of West No. 8 Road, east of No. 8 Road, Latitude 20, Moore center of Xi'an high tech Zone
The implementation site is to the north of the West Sixth Road of the North-South No. 2 Road, the 22nd floor of unit 1, building 201, and the 1st floor of building 3, Nanshan District, Shenzhen
10th and 11th floors of Dongbeiyuan in the west of plot 6 Road (rent)
Gaojiao block (Xi'an city)
New area (central Innovation Zone)
The reason for the first change is mainly due to the land planning adjustment of the local government, and the original implementation plot is controlled by Xi'an high tech
Due to the collection and storage of the land reserve center of the Technology Industry Development Zone, the company was unable to obtain it on schedule, and the local government provided support for the company
The new plot has obvious location advantages, which is conducive to the talent introduction and long-term development of the company.
The reasons for the second change are mainly as follows: (1) the land planning of the local government is adjusted again, and the above-mentioned new plots have no change
According to the law, the local government plans to provide another planned land for the company for the implementation of raised investment projects. The plot is located in the West
There is only one village road and county road around the southwest corner of the intersection of planned wei30 road and planned jing40 road in Anshi high tech Zone,
The traffic is inconvenient. At the same time, there are no high-rise buildings around the plot, which brings great difficulties to the project construction planning
Difficult and not conducive to the recruitment of personnel required for project implementation; (2) With the announcement of fuel consumption in many countries or regions around the world
According to the car ban schedule, the global penetration rate of new energy vehicles continues to increase, and the company actively arranges the electric vehicle aftermarket
New opportunities in vehicle repair, maintenance, charging and discharging, and provide products related to new energy charging and discharging systems
And services. Therefore, since the above plots cannot meet the construction needs of raised investment projects, the company combines the operation and development regulations
In order to grasp the opportunity of reform in the automotive industry and support the rapid implementation of R & D achievements, project I is changed.
（2） IV. whether the overall progress of the project can be achieved after the change
Estimated time to realize benefits by status
1. Implementation progress and overall schedule of each project after change
As of December 31, 2021, the company's previously raised funds have been invested in the projects invested by the raised funds
The amount is 219.6701 million yuan, and the over raised funds are used to permanently supplement the working capital of 260 million yuan, which has been used accumulatively
The raised funds were 479.6701 million yuan, accounting for 43.64% of the net funds raised in the previous time, and the overall progress was slow
It is mainly due to the adjustment of government planning and the original implementation of " Autel Intelligent Technology Corp.Ltd(688208) Xi'an Northwest headquarters base and R & D center construction project"
The construction land is collected and stored by the land reserve center of Xi'an high tech Industrial Development Zone, resulting in the land use of the project has not been implemented yet.
Excluding the proposed raised capital of RMB 481.7276 million for the construction of Xi'an Northwest headquarters base, the previous raised capital
The overall investment progress of the project is 77.68%, and the specific use conditions are as follows:
Unit: 10000 yuan
Before and after the change, as of December 31, 2021
Project Name: the project reaches the total amount of pre numbered investment, the total amount of raised investment to be used, the total amount of raised investment to be used, the cumulative amount of raised funds to be used, and the amount of available capital is calculated as the investment amount Progress status date
Autel Intelligent Technology Corp.Ltd(688208) northwest of Xi'an
1 headquarters base and R & D 55609.64 55609.64
Core construction project
2 Autel Intelligent Technology Corp.Ltd(688208) Xi'an R & D 34265.44 34265.44 9432.81 27.53% center construction project in 2023
3 Autel Intelligent Technology Corp.Ltd(688208) new energy production 21344.20 21344.20 4582.81 21.47% 2023 product R & D project
4 automobile intelligent diagnosis cloud service 9390.98 9390.98 9390.98 9390.98 7951.38 84.67% March 2022 service platform construction project
Subtotal of previous raised investment project 65000.62 65000.62 65000.62 65000.62 21967.01 33.80%
Permanent supplementary working capital 44924.32 44924.32 44924.32 44924.32 26000.00 57.88% not applicable
Total 109924.94 109924.94 109924.94 109924.94 47967.01 43.64%
Note: the above-mentioned progress data of raised capital investment has not been verified
The construction expectation and current progress of the above outstanding raised investment projects are shown in the table below:
Name of previous raised investment project (after change)
Serial number construction Autel Intelligent Technology Corp.Ltd(688208) Xi'an R & D center construction Autel Intelligent Technology Corp.Ltd(688208) new energy product R & D automobile intelligent diagnosis cloud service platform construction project
1 project commencement date 2
