Stock abbreviation: Raytron Technology Co.Ltd(688002) securities code: 688002 listing place: Shanghai Stock Exchange Raytron Technology Co.Ltd(688002)
(address: No. 11 Guiyang street, Yantai Development Zone)
Issue convertible corporate bonds to unspecified objects
Feasibility analysis report on the use of raised funds
February, 2002
1、 Use plan of raised funds
The company plans to issue convertible corporate bonds to unspecified objects, and the total amount of funds raised shall not exceed 1640 million yuan (inclusive). After deducting the issuance expenses, the funds raised are intended to be used for the following projects:
Unit: 10000 yuan
No. project name total investment of the project proposed to use the raised funds to implement the main body
1 infrared thermal imaging complete machine project 110000.00 75409.06-
1.1 airy photoelectric infrared thermal imaging machine project 80000.00 61909.06 airy photoelectric
1.2 Hefei Yingrui infrared thermal imaging terminal products 30000.00 13500.00 Hefei Yingrui
project
2 intelligent photoelectric sensor R & D pilot platform 90000.00 40000.00 Qixin semiconductor
3. Supplementary working capital 48590.94 Raytron Technology Co.Ltd(688002)
Total 248590.94 164000.00
If the actual funds raised in this offering (after deducting the issuance expenses) are less than the total amount of funds to be invested in this offering, the board of directors of the company will arrange the specific use of the raised funds according to the importance and urgency of the purpose of the raised funds, and the insufficient part will be solved by self financing. On the premise of not changing the investment project of the raised funds, the board of directors of the company can appropriately adjust the investment sequence and amount of the raised funds of the above projects according to the actual needs of the project. Before the funds raised from the issuance of convertible corporate bonds are in place, the company will invest in advance through self raised funds according to the actual situation of the implementation progress of the investment project with raised funds, and replace them in accordance with the procedures specified in relevant laws and regulations after the raised funds are in place. 2、 Background of the project invested by the raised funds
(I) investment project background of the raised funds
1. Infrared thermal imaging technology industry is developing rapidly
Infrared thermal imaging technology was first used in the field of defense and has high application value in special equipment. Its most important applications are night observation and target detection. Infrared thermal imager uses infrared thermal imaging technology to convert the infrared radiation energy of the measured target into infrared thermal image. Since the 1970s, some developed countries in Europe and America have begun to use infrared thermal imagers to explore in various fields. With the development and maturity of infrared imaging technology, various low-cost infrared imaging equipment suitable for civil use appear, which plays a more and more important role in various fields of national economy.
2. The demand for infrared thermal imaging applications continues to rise
In the field of defense, infrared thermal imager detects the infrared radiation emitted by objects in a passive way, which is more concealed than other active imaging systems with light sources. In view of its good concealment, strong anti-interference, strong target recognition ability and all-weather operation, infrared thermal imager is widely used in special equipment such as reconnaissance and surveillance. Infrared products of special equipment have been gradually used in sea, land and air battlefields since the 1970s and 1980s. After years of technical iteration and product replacement, infrared products have a high penetration rate in the defense field of the United States, France and other developed countries, and the market tends to be stable. At the same time, western developed countries have adopted strict technical blockade and product embargo policies for infrared imaging, which also restricts the substantial growth of the global defense market. According to the prediction of maxtech international and Beijing Ericsson Consulting Center, the global defense infrared market will reach US $10.795 billion in 2023. At present, the international special equipment infrared thermal imagers are mainly dominated by enterprises in developed countries in Europe and America. Because countries maintain high sensitivity and restrict or prohibit exports to foreign countries, most of the markets are concentrated in Europe and America. Compared with the international market, China’s defense infrared market is still in the stage of vigorous catch-up due to its weak foundation. In recent years, the application of infrared thermal imager in China’s defense field is in the stage of rapid improvement. China’s special equipment infrared thermal imager market belongs to the sunrise industry, with low industry penetration and broad development space in the future. According to the prediction of Beijing Ericsson Consulting Center, the total market capacity of China’s special equipment infrared market is more than 30 billion yuan.
In the civil field, with the development of technology and the reduction of product cost and price, infrared imaging has a wider range of application scenarios, including security monitoring, personal consumption, assisted driving, fire and police, industrial monitoring, human body temperature screening, power monitoring, medical quarantine and many other fields. The infrared thermal imager industry has fully realized market-oriented competition, and all enterprises compete freely in the market. The rapid growth of infrared thermal imager in the civil market mainly comes from the continuous expansion of new application fields brought by the decline of product cost. With the popularization of infrared thermal imager in power, consumption, construction, law enforcement, fire protection, vehicle and other industries, the civil infrared thermal imager industry will usher in a period of rapid growth of market demand. According to the prediction of maxtech international and Beijing Ericsson Consulting Center, the global civil infrared market will reach US $7.465 billion in 2023. According to yole’s uncooled infrared imagers and detectors 2019, the global uncooled civil infrared market is expected to reach US $4.424 billion in 2024. With the continuous development of China’s economy, the gradual reduction of the price of China’s infrared imaging products and the popularization of applications, the market demand for infrared thermal imagers is also growing. Due to the wide application fields of infrared thermal imager products and great convenience for people’s production and life, the market demand for infrared thermal imager will maintain a sustained and stable growth trend in the future. In addition to the traditional application industry, there will be more emerging market demand in the future, which will become a new growth point of the infrared imaging market.
3. The industrial policies of the company’s industry are strongly supported
In order to promote the development of infrared thermal imaging industry, the State Council and relevant government departments have successively promulgated a series of industrial and commercial policies
The industrial policy provides guidance for supporting enterprise development and strengthening industrial norms, which will be implemented in a long time
During the period, it has promoted the development of the industry.
With the development and maturity of infrared imaging technology, various kinds of infrared imaging technology are suitable for
The emergence of civil low-cost infrared imaging equipment plays a more and more important role in various fields of national economy
effect. The construction of the raised investment project will further expand the production capacity of infrared thermal image products and help promote the development of red
The development of foreign thermal image industry is in line with the national policy guidance and has a good market prospect.
(II) main laws, regulations and policies of the industry
The company is an integrated circuit company specializing in the development of uncooled infrared thermal imaging and MEMS sensing technology
Chip enterprises are committed to the design and manufacture of special integrated circuits, MEMS sensors and infrared imaging products,
Relevant industries have been strongly supported by national industrial policies. The main industrial policies are as follows:
Contents of time related policies of the competent department of the catalogue
Build a photoelectric intelligent sensing industry base and build a micro nano manufacturing innovation center. Support Yantai focused infrared sensor
MEMS sensors, gas sensors, semiconductor lasers, terahertz detectors, microwave devices and other key fields, high standard “Shandong province promotes the construction of intelligent sensors, photoelectric sensing research institute, and cultivates integrated circuit devices”
The industrial development action plan (2021 – the end of 2023 integrating the planning, materials, sealing and testing, equipment development and application of Shandong Province in July 2021) will integrate the industrial chain and industrial agglomeration area of Xinting, and build a national intelligent sensor public service platform for research institutes Enterprises provide R & D and pilot test services. Support key enterprises to develop gas transmission
New technologies and applications in sensing, inertial sensing, water quality sensing and other fields, amplify the driving effect, and build a relatively complete sensor industry cluster.
The fourth chapter of the digital Shandong development plan is guided by the needs of high-end equipment, new energy vehicles and power electronics (2018-2022). The CPC Shandong will vigorously develop core basic components. Accelerate the development of intelligent transmission “cultivate and expand the sensor of a new dynamic province of digital economy in April 2021, and promote the production of sensor elements based on the first article of” expand the new generation of transmission information technology industries such as acoustics, pressure, gas, acceleration and gyroscope “based on Micro Electro Mechanical system (MEMS) process technology.
Accelerate the growth of new generation information technology, biotechnology, energy new The Central Committee of the Communist Party of China on formulating the 14th aerospace and marine equipment industry for national materials, high-end equipment, new energy vehicles, green environmental protection and Aviation Economic and social development. Promote the in-depth integration of the Internet, the five-year plan for the majority of industries and the remote data and artificial intelligence industries in 2035, Section 4 of the proposal on promoting the goal of advanced landscape making “add the development of manufacturing clusters by the CPC Central Committee in October 2020, build a number of modern industrial systems with different characteristics, complementary advantages and rapid development, promote the growth engine of strategic emerging industries with reasonable structure, and cultivate the optimization and upgrading of new technological and economic system” New business forms and models. Promote the healthy development of platform economy and “developing strategic emerging industries” sharing economy. Encourage mergers and acquisitions of enterprises and prevent low-level redundant construction. “
The decision of the CPC Shandong Provincial Committee on formulating the decision of the CPC Shandong Provincial Committee to resolutely eliminate backward kinetic energy in December 2020, tighten the standards of environmental protection, quality, technology, energy consumption and safety of Shandong Province’s national economic and social development, and force the backward production capacity to retreat faster in accordance with the law and regulations
Contents of time related policies of the competent department of the catalogue
The 14th five-year plan and the second five-year plan will be carried out, and the new excess capacity will be strictly controlled. Encourage enterprises to merge and restructure through the construction and replacement of capacity purchase, index trading, equity cooperation and other means, In Section 4 of the guiding proposal, “we will unswervingly promote industrial transformation, environmental protection relocation and gradient transfer. We will resolutely transform the old and new kinetic energy, strengthen the present and enhance the traditional kinetic energy, and take high-end, intelligent and green as the new advantages of modern industries”, Rolling implementation of “ten thousand technological transformation” and “ten thousand enterprises”
