About Xinjiang Daqo New Energy Co.Ltd(688303)
Issuance of A-Shares to specific objects in 2022
Issuance recommendation
Sponsor
(27th and 28th floors, building 2, international trade building, No. 1 Jianguomenwai street, Chaoyang District, Beijing) February, 2002
China Securities Regulatory Commission and Shanghai Stock Exchange:
Xinjiang Daqo New Energy Co.Ltd(688303) (hereinafter referred to as ” Xinjiang Daqo New Energy Co.Ltd(688303) “, “issuer” or “company”) intends to apply for the issuance of no more than 577.5 million RMB common shares (A shares) to specific objects (hereinafter referred to as “this securities issuance”, “this issuance” or “issuing A-Shares to specific objects”), And has hired China International Capital Corporation Limited(601995) (hereinafter referred to as ” China International Capital Corporation Limited(601995) “) as the sponsor of this securities issuance (hereinafter referred to as “sponsor” or “our institution”).
In accordance with the company law of the people’s Republic of China (hereinafter referred to as the “company law”), the securities law of the people’s Republic of China (hereinafter referred to as the “Securities Law”) and the measures for the administration of securities issuance and listing recommendation business (hereinafter referred to as the “recommendation measures”) Measures for the administration of securities issuance and registration of listed companies on the science and Innovation Board (for Trial Implementation) (hereinafter referred to as the “measures for the administration of registration”), standards for the contents and forms of information disclosure by companies issuing securities No. 27 – issuance recommendation letter and issuance recommendation work report (hereinafter referred to as “Standards No. 27”) The code for due diligence of sponsors and other laws and regulations, as well as the relevant provisions of the China Securities Regulatory Commission (hereinafter referred to as the “CSRC”) and Shanghai Stock Exchange, China International Capital Corporation Limited(601995) and its recommendation representatives are honest, trustworthy, diligent and responsible, and issue this issuance recommendation letter in strict accordance with the business rules, industry practice norms and ethical standards formulated according to law, And guarantee the authenticity, accuracy and completeness of this issuance recommendation letter.
(unless otherwise specified in this offering recommendation letter, relevant terms have the same meaning as in the due diligence report on issuing A-Shares to specific objects in Xinjiang Daqo New Energy Co.Ltd(688303) 2022)
1、 Basic information of this securities issuance (I) name of sponsor
China International Capital Corporation Limited(601995) 。 (II) the sponsor representative specifically responsible for this recommendation
Chen Wei: obtained the qualification of sponsor representative in 2007, and once served as the sponsor representative of Tianjin Pengling rubber hose Co., Ltd. for IPO and gem listing projects, Xi’An Peri Power Semiconductor Converting Technology Co.Ltd(300831) IPO and gem listing projects, Xinjiang Daqo New Energy Co.Ltd(688303) IPO and gem listing projects.
Zhang Zhiqiang: obtained the qualification of sponsor representative in 2012, and once served as the project of Shenzhen Shenzhen Jpt Opto-Electronics Co.Ltd(688025) North Electro-Optic Co.Ltd(600184) Co., Ltd. for IPO and listing on the science and innovation board, Csd Water Service Co.Ltd(603903) project for IPO and listing on the main board, Cre8 Direct (Ningbo) Co.Ltd(300703) project for IPO and listing on the innovation board, Guangdong Fangyuan Environment Co.Ltd(688148) project for IPO and listing on the science and innovation board Xinjiang Daqo New Energy Co.Ltd(688303) the sponsor representative of the project of IPO and listing on the science and innovation board and the project of Jiangsu aoliwei sensor High Tech Co., Ltd. issuing A-Shares to specific objects in 2020. (III) Project Co sponsors and other project team members
Co organizer of the project: Liu Siyi, who obtained the securities practice qualification in 2021, strictly abides by the measures for the administration of securities issuance and listing recommendation business and other relevant regulations in the practice of recommendation business, and has a good practice record.
Other members of the project team: Yang Likang, Chen Shuyu and Zhang Chen. (IV) basic information of the issuer
1. Issuer profile
Company name: Xinjiang Daqo New Energy Co.Ltd(688303)
English Name: Xinjiang daqo new energy Co., Ltd
Registered address: No. 16, Weiliu Road, new chemical materials Industrial Park, Shihezi Economic Development Zone, Xinjiang Uygur Autonomous Region
Registration time: February 22, 2011
Listing time: July 22, 2021
Listed on the scientific innovation board of Shanghai Stock Exchange
Business scope polysilicon, silicon core, silicon wafer, photovoltaic cells, photovoltaic modules and photovoltaic power generation system products
Production, processing and sales of trichlorosilane, silicon tetrachloride, sodium hydroxide, hydrochloric acid and sodium hypochlorite, and production technology consulting services related to the above products; The import and export business of goods and technologies related to the production and operation of the enterprise (commodities and technologies subject to special examination and approval by the state can only be engaged in business activities after obtaining relevant licenses. The specific business items shall be subject to the items specified in the license; commodities and technologies involving quota license management and special regulations management shall be handled in accordance with the relevant provisions of the state). (for projects subject to approval according to law, business activities can be carried out only after approval by relevant departments)
Tel: 86-993-2706066
Postal Code: 832000
Fax 86-993-2706088
Company website https://www.xjdqsolar.com.
E-mail [email protected].
Type of securities issuance: issuing A-Shares to specific objects
2. Latest equity structure and top ten shareholders of the issuer
(1) Equity structure of the issuer
As of September 30, 2021, the total share capital of the issuer is 1925 million shares, and the share capital structure is shown in the table below:
Class of shares number of shares (shares) shareholding ratio (%)
Shares with limited sales conditions 1726472308 89.69
Tradable shares without restrictions 198527692 10.31
Total share capital 1925000000 100.00
(2) Top ten shareholders of the issuer
As of September 30, 2021, the top ten shareholders of the issuer are as follows:
No. name of shareholder total number of shares (shares) shareholding proportion (%) number of shares pledged or frozen under Limited sales conditions (shares)
1 Cayman Encyclopedia 1531718500 79.57% 50831173-
2 Chongqing Daquan 21781500 1.13% 37440660-
3 Xu Guangfu 19500000 1.01% 37046834-
4 Xu Xiang 19500000 1.01% 23537521-
China International Capital Corporation Limited(601995) – Agricultural Bank Of China Limited(601288) – CICC
5. Xinjiang Daquan No. 1 employee of the company participated in 16973300 0 0.88% 23428536 – strategic placement collective asset management of science and innovation board
Management plan
Shenzhen Venture Capital laterite equity investment management (Shenzhen)
6 Shenzhen) Co., Ltd. – Shenzhen Venture Capital manufacturing 16751981 0.87% 23428536 – transformation and upgrading new materials Fund (limited)
No. name of shareholder total number of shares (shares) shareholding proportion (%) number of shares pledged or frozen under Limited sales conditions (shares)
(partner)
7 Abu Dhabi Investment Authority 16559108 0.86% 21256422-
8 Shi Dafeng 16250000 0.84% 17043874-
9 LONGGEN ZHANG 16,250,000 0.84% 16,818,672 –
10 China Insurance Investment Co., Ltd. – China 11633317 0.60% 13604179 – China Insurance Investment Fund (limited partnership)
Total 1686917706 87.63% 264436407-
3. Statement of previous fund raising, cash dividends and changes in net assets of the issuer
(1) The issuer’s previous equity financing is as follows:
Unit: 10000 yuan
Net assets at the end of the initial stage of A-Shares 466780.23 (as of December 31, 2020)
Time of issue net amount raised by type of issue
Previous initial public offerings
On July 13, 2021, the shares were listed on 606719.18
The cumulative cash distribution after the IPO of A-Shares is 0.00
The net asset amount at the end of the early stage of this issuance is 1521613.21 (as of September 30, 2021)
(2) Profit distribution of the issuer in the last three years
The company completed its initial public offering of A-Shares in July 2021 and was listed on the science and innovation board. The company has not implemented dividends after listing.
In order to expand polysilicon production capacity and develop its main business, the issuer has not made profit distribution since 2018, except that it has withdrawn the statutory reserve fund in accordance with the law.
4. Main financial data and financial indicators of the issuer
(1) Main data of consolidated balance sheet
Unit: 10000 yuan
Project September 30, 2021 December 31, 2020 December 31, 2019 December 31, 2018
Total assets 2000405.99 900173.81 910831.21 586891.67
Total liabilities 478792.79 433393.58 577523.15 285601.25
Shareholders’ equity
