Securities code: 000591 securities abbreviation: Cecep Solar Energy Co.Ltd(000591) Cecep Solar Energy Co.Ltd(000591)
CECEP Solar Energy Co.,Ltd.
Non public offering of shares
Feasibility analysis report on the use of raised funds
(Revised Version)
February, 2002
interpretation
In this feasibility analysis report, unless otherwise specified in the text, the following words have the following specific meanings:
Issuer / company / the company refers to Cecep Solar Energy Co.Ltd(000591)
This offering / this non-public offering refers to Cecep Solar Energy Co.Ltd(000591) this non-public offering of A-Shares to specific objects
This feasibility analysis report and this report refer to the feasibility analysis report on the use of funds raised by Cecep Solar Energy Co.Ltd(000591) non-public offering of shares
Board of directors means the Cecep Solar Energy Co.Ltd(000591) board of directors
Yuan and 10000 yuan refer to RMB yuan and 10000 yuan
The main values in this feasibility analysis report retain two decimal places. Due to rounding, the total number may be inconsistent with the sum of the sub item values.
1、 Use plan of the raised funds
The funds raised in this non-public offering shall not exceed 600 million yuan (including this amount). The net amount of the funds raised from this non-public offering after deducting the issuance expenses will be used for the construction of photovoltaic power station project and supplement working capital. The specific conditions are as follows:
Unit: 10000 yuan; Currency: RMB
No. project name total investment of the project to be invested in raised funds
1 cecep Binhai Taiping 300 MW photovoltaic composite power generation project 124004.18 110100.00
2 energy saving Dunhuang 30MW grid connected photovoltaic power generation project 14292.70 9800.00
3 medium energy saving Guixi Liukou 50MW fishing light complementary photovoltaic power station project 20565.54 18700.00
4. Agricultural photovoltaic power station project in Daoping Town, Fuquan City 75172.51 69000.00
5. Yumen 50MW wind 24728.19 22400.00 optical complementary power generation project of cecep Cecep Solar Energy Co.Ltd(000591) (Jiuquan) Power Generation Co., Ltd
6 cecep Chongyang shaping 98mw agricultural photovoltaic complementary power generation project 44884.54 40000.00
Cecep (Jianli) Cecep Solar Energy Co.Ltd(000591) Technology Co., Ltd
7 200MW fishing light complementary photovoltaic power stations phase II 100MW construction project 44758.13 41700.00 items
8. Jialiang agricultural photovoltaic power station project in Libo County 74545.60 69400.00
9 cecep Yongxin Luxi 100MW Lin Guang complementary photovoltaic power generation project 43627.58 38900.00
10 supplementary working capital 180000.00 180000.00
Total 646578.97 600000.00
In order to ensure the smooth progress of the investment project with raised funds and protect the interests of all shareholders of the company, before the funds raised in this non-public offering are in place, the company will invest in advance with self raised funds according to the actual needs of the project progress, and replace them according to the procedures and time limit specified in relevant laws and regulations after the raised funds are in place.
If the actual net amount of funds raised in this non-public offering is lower than the above amount of funds to be invested, the insufficient part shall be solved by the company’s self raised funds. On the premise of not changing the project invested by raising 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. 2、 The necessity of the project invested by the raised funds (I) actively respond to the national energy development strategy
Affected by the rapid economic and social development, China’s energy and resource constraints are tightening day by day, and the ecological and environmental problems are becoming increasingly prominent. Adjusting structure, improving energy efficiency and further ensuring energy security are the only way for China’s energy development strategy. On September 22, 2020, Xi Jinping president delivered an important speech at the general debate of the 70th UN General Assembly, China will increase its national independent contribution and adopt more effective policies and measures. Carbon dioxide emissions will reach the peak by 2030 and strive to achieve carbon neutralization by 2060. Under the clear requirements of the overall goal of carbon neutralization, the power supply structure will continue to be inclined to renewable energy. The Chinese government attaches great importance to the renewable energy industry and has successively issued a series of policies to support the development of the renewable energy industry.
According to the strategic action plan for energy development (2014-2020) (GBF [2014] No. 31) issued by the general office of the State Council, the state will adhere to the development of efficient and clean utilization of non fossil energy and fossil energy, gradually reduce the proportion of coal consumption, increase the proportion of natural gas consumption, and significantly increase the proportion of renewable energy such as wind power, Cecep Solar Energy Co.Ltd(000591) , geothermal energy and nuclear power consumption, Form a scientific and reasonable energy consumption structure suitable for China’s national conditions, significantly reduce energy consumption and emissions, and promote the construction of ecological civilization. In 2016, the national development and Reform Commission and the National Energy Administration issued the energy production and consumption revolution strategy (2016-2030), which proposed that by 2020 and 2030, China’s non fossil energy should account for 15% and 20% of primary energy consumption. During this period, the new energy demand mainly depends on clean energy.
On March 15, 2021, Xi Jinping chairman pointed out at the ninth meeting of the central financial and Economic Commission that we should build a clean, low-carbon, safe and efficient energy system, control the total amount of fossil energy, strive to improve utilization efficiency, implement renewable energy substitution actions, deepen power system reform and build a new power system with new energy as the main body.
The fund raised for the investment and construction of photovoltaic power station projects is an important measure to actively respond to the national energy “carbon peak and carbon neutralization” strategy. It is an effective way to meet the demand for new energy. It is also a specific action to implement the construction of a new power system with new energy as the main body, which is conducive to the adjustment of China’s energy consumption structure. (II) grasp the historic opportunity for the development of photovoltaic industry
Since the 20th century, with the in-depth reform of science and technology, the world economy has shown explosive growth, but the excessive dependence on traditional energy such as coal, oil and natural gas has caused a series of ecological and environmental problems. In this context, in order to achieve sustainable economic and social development, the basic trend of global energy transformation is to realize the transformation from fossil energy system to low-carbon energy system, and finally enter the era of sustainable energy dominated by renewable energy. Among them, Cecep Solar Energy Co.Ltd(000591) as an important part of renewable energy, has the advantages of universality, cleanliness and durability. It is a very high-quality energy choice. Developed and developing countries have issued a series of industrial policies to support the healthy and sustainable development of photovoltaic industry.
According to the roadmap for the development of China’s photovoltaic industry (2019 version) released by China photovoltaic industry association in 2020, from 2020 to 2025, with the iteration of new and old technologies, the cost of photovoltaic power generation is expected to further decline, with significant economic benefits, up to 200GW in some cases. The rapid development of photovoltaic industry is the general trend, and the company can take advantage of the situation with the help of raised investment projects. (III) enhance the company’s market position and competitive strength
Focusing on Cecep Solar Energy Co.Ltd(000591) comprehensive application, the company is committed to exploring the road of coordinated and diversified development of relevant business fields driven by photovoltaic power generation, and adheres to the relevant diversified development strategy of coordinated development of traditional businesses focusing on photovoltaic power station and photovoltaic manufacturing and relevant new businesses. The company has strong ability in project development, construction and operation management, and has accumulated rich investment experience. At present, the company has developed and operated projects of various photovoltaic power station modes, including ground, beach, desert, distributed and photovoltaic building integration projects, photovoltaic agriculture and so on. The projects are all over 20 provinces, cities and autonomous regions of China.
The photovoltaic industry is a capital intensive industry, showing an obvious scale effect. The implementation of the fund-raising investment project will help the company improve the installed capacity of photovoltaic at the operation end, enhance the company’s core competitiveness and consolidate the market competitive advantage. This issuance provides capital guarantee for the development of the company, promotes the long-term and healthy development of various businesses of the company, and lays a solid capital foundation for the strategic development of the company. 3、 Feasibility of the project invested by the raised funds (I) national policies strongly support the development of new energy power industry
In order to further promote energy conservation, emission reduction and sustainable development, the Chinese government has issued a series of policies to encourage and support the development of renewable energy industry and regulate and guide the development of photovoltaic power generation and wind power industry. In recent years, in order to promote the consumption of renewable energy such as photovoltaic power generation and wind power, the national development and Reform Commission and the national energy administration have successively issued a number of policy documents to further promote the consumption of renewable energy and promote the healthy and rapid development of the industry.
In May 2019, the national development and Reform Commission and the National Energy Administration jointly issued the notice on establishing and improving the power consumption guarantee mechanism of renewable energy, which proposed to promote the priority consumption of renewable energy in all provincial administrative regions under the overall framework of power market-oriented trading, and promote all market entities responsible for consumption to bear the responsibility of consuming renewable energy power fairly, Form a long-term development mechanism to promote the construction of a clean, low-carbon, safe and efficient energy system.
In April 2020, the notice on matters related to the preparation of the 14th five year plan for renewable energy development (gnztxneng [2020] No. 29) issued by the comprehensive Department of the national energy administration proposed that all regions and relevant departments should attach great importance to the preparation of the 14th five year plan for renewable energy development and closely focus on the new energy security strategy of “four revolutions and one cooperation”, Scientifically put forward the development objectives of renewable energy, clarify the main tasks, major projects, innovative methods and safeguard measures for the development of renewable energy, promote the continuous reduction of costs, expansion of scale, optimization of layout, improvement of quality and efficiency of renewable energy, and achieve high-proportion and high-quality development. In order to promote renewable energy to become the main body of energy consumption during the 14th Five Year Plan period, Lay a solid foundation for achieving the strategic goal of 20% of non fossil energy consumption by 2030. With the support of national policies, the proportion of photovoltaic in China’s power generation energy structure will still rise further in the future, and the market scale of the industry will continue to grow, providing good support for the implementation of the project. (II) listed companies have good basic reserves
The company is the first listed company in China that focuses on Cecep Solar Energy Co.Ltd(000591) power generation and supplemented by Cecep Solar Energy Co.Ltd(000591) battery module manufacturing, and has a good foundation for project implementation:
1. The company has a good industrial foundation, which is conducive to the implementation of raised investment projects
After years of development, the company’s business has spread across 20 provinces, cities and autonomous regions in China, and continues to promote the high-quality investment, construction and acquisition of photovoltaic power stations. As of September 30, 2021, the company has operated about 4.31gw of power stations, about 0.33gw of power stations under construction, about 1.07gw of power stations to be built (parity projects that have been recorded) or power stations that have signed pre acquisition agreements, totaling about 5.71gw.
At the manufacturing end, the company has realized the industrialization of 182 large-size perc + single crystal high-efficiency cells and the mass production of 182 large-size multi main grid half piece high-efficiency modules. As of September 30, 2021, the annual production capacity of high-efficiency cells and high-efficiency modules is 1.2gw. The company has rich project experience in the investment and operation of photovoltaic power plants, Cecep Solar Energy Co.Ltd(000591) battery production and photovoltaic module production. 2. The company has formed a special management team and management system to ensure the smooth progress of the project
After years of development, the company has established an advanced management team with reasonable structure, exquisite technology, unity and cooperation, adhering to the high-level operation and management ability and the sunshine spirit of “hard work, dedication, truth-seeking innovation, vigorous action, unity and cooperation”. Members of the company’s core management team have been committed to the photovoltaic power and energy-saving resource industries for many years, and have a deep understanding of the technology and business development path and trend of the global photovoltaic industry. In the development process of the company, the installed capacity has been continuously improved, the technical equipment has been continuously updated and upgraded, the production scale has been continuously expanded, and the scope of sales customers has been growing. The management team has accumulated rich industry experience and management experience. In addition, the company has established and gradually improved a modern and global mature management system, including supply chain system, sales system, R & D system, human resources system and organizational structure system, which has fully improved the management efficiency and mobilized the vitality of employees.
4、 Details of the project invested with the raised funds (I) cecep Binhai Taiping 300 MW photovoltaic composite power generation project
1. Basic information of the project
Cecep Binhai Taiping Town 300 MW photovoltaic composite power generation project is located in Dagang Taiping Town, Binhai area, Tianjin. The planned installed capacity of the project is 300MW, and the total investment is 1240041800 yuan. The project implementation subject is cecep (Tianjin) Cecep Solar Energy Co.Ltd(000591) Technology Co., Ltd., a wholly-owned subsidiary of the company.
2. Project investment estimate
Project or cost name investment contract
