Securities code: 002841 securities abbreviation: Guangzhou Shiyuan Electronic Technology Company Limited(002841) Guangzhou Shiyuan Electronic Technology Company Limited(002841) non public offering of A-Shares in 2021
Feasibility analysis report on the use of raised funds
(Revised Version)
February 2022
1、 Use plan of the raised funds
The total amount of funds to be raised by the company in this non-public offering of shares shall not exceed 2045494400 yuan (including this amount). The net amount of funds raised after deducting the issuance expenses shall be used to invest in the construction project of intelligent manufacturing base of interactive intelligent display and control products.
If the actual raised funds of this non-public offering after deducting the issuance expenses are less than the total amount of the raised funds of the above projects, the insufficient part of the raised funds shall be raised by the company itself.
Before the raised funds are in place, the company will pay the funds required for the above projects with self raised funds according to the actual needs. After the raised funds are in place, the company will replace them with the raised funds. 2、 Basic information and development prospect of the project invested by the raised funds
(I) basic information of the project
1. Project investment
Project Name: construction project of intelligent manufacturing base for interactive intelligent display and control products
Project nature new
Guangzhou Shiyuan Innovation Technology Co., Ltd
The project is located in the west of reform Avenue and the north of talent first road of Zhongxin Guangzhou Knowledge City
The construction period of the project shall not exceed 36 months
It is proposed to build an intelligent manufacturing base for interactive intelligent display and control products, including the purchase of advanced intelligent manufacturing software and hardware equipment, and the construction of pilot and mass production lines for display and control product components and complete sets of interactive intelligent display and control products; In order to meet the testing needs related to intelligent manufacturing and trial production, it is proposed to build R & D office buildings, pilot test bases and first-class professional laboratories.
2. Project implementation subject
The implementation subject of the investment project with raised funds is vision innovation, a wholly-owned subsidiary of the company. The basic information is shown in the table below:
Company name: Guangzhou Shiyuan Innovation Technology Co., Ltd
Unified social credit code 91440101ma9w615h95
Registered capital: 200 million yuan
Legal representative: Wang Yang
General mechanical equipment installation services; Retail of computer software, hardware and auxiliary equipment; Manufacturing of mobile terminal equipment; Slide and projection equipment manufacturing; Audio equipment manufacturing; Manufacturing of other electronic devices; Scope of business: display device manufacturing; Manufacturing of computer software, hardware and peripheral equipment; Information system integration service; Professional design services; Industrial design services; Computer and office equipment maintenance; Sales of communication equipment; Sales of household audio-visual equipment; Sales of household appliances; Television manufacturing; Technical services, technical development, technical consultation, technical exchange, technology transfer and technology promotion; Information technology consulting
Services; Network and information security software development; Digital culture creative software development; Software development; Basic software development of artificial intelligence; Engineering and technical research and test development; Import and export of goods; Technology import and export.
(II) background and necessity of project implementation
1. The development of technology helps the rapid popularization and promotion of products
The R & D and production process of interactive intelligent display products involves interdisciplinary knowledge such as computer science, software engineering, electronic information engineering, electronic science and technology, industrial automation, control theory and control engineering. It has high technical content and requires high product design capacity and production and manufacturing capacity of enterprises. The development of products is greatly affected by the technological upgrading and iteration related to the industrial chain and the cost savings brought by technological progress.
With the progress of industry technology, the improvement of production capacity and the development of localization of main materials, it will further promote the large-scale popularization and promotion of interactive intelligent tablets.
2. The demand of the education industry continues to increase
Education is a complex system. All countries are looking for ways to improve the quality of education, give full play to the role of information technology, and play a core and key role in the realization of global education goals. In 2015, UNESCO held the first International Conference on Informatization in education in China and issued the Qingdao declaration. Aiming at the new goals of global education development in the next 15 years, the declaration discusses how ICT can play an effective role and use information and communication technology to promote the realization of the United Nations 2030 goal of sustainable development of education.
In February 2019, the CPC Central Committee and the State Council issued "China's education modernization 2035". One of the ten strategic tasks put forward is to accelerate the educational reform in the information age, build an intelligent campus, coordinate the construction of an integrated intelligent teaching, management and service platform, and put forward to ensure that the expenditure on education in the general budget only increases year by year, We will ensure that the state's financial expenditure on education accounts for no less than 4% of China's GDP. In addition, the implementation plan of accelerating the modernization of Education (2018-2022) issued by the general office of the State Council has also proposed the whole process of teaching and learning by means of information, accelerating the development of intelligent education and building the support platform for "Internet plus education". On the whole, educational informatization has gradually become an endogenous variable to change the educational system and improve the quality of education. It is a strategic choice for China's educational reform and development in the new era to comprehensively promote the deep integration of information technology and education and teaching, establish a networked, digital, intelligent, personalized and lifelong education system, and lead the modernization of education with the support of educational informatization.
Thanks to the continuous growth of China's investment in education informatization, the scale of China's interactive intelligent display and control industry is growing rapidly, and the proportion of shipments in the global market continues to rise. Now it has the largest interactive intelligent display and control industry in the world. With the advancement of global education informatization, the demand for interactive intelligent display and control products in the global education industry will continue to grow in the future.
3. The demand for enterprise services and other fields is expanding
With the progress of application technology and the growth of downstream demand, the interactive intelligent display and control product industry has achieved rapid development, and the application field has been continuously extended and the demand has been continuously expanded. The penetration rate of related products in many fields such as conference, medical treatment, government affairs, media, advertising, transportation, finance, hotel and so on has been continuously improved, especially in enterprise conference, smart government affairs and smart medical treatment.
In the huge enterprise service market, conference service is the outlet of the era of intelligent commerce. In the increasingly competitive market economy environment, enterprises and other organizations pay more attention to the improvement of conference efficiency and even operation efficiency.
Interactive intelligent display and control products integrate computer, projector, touch screen, electronic whiteboard and other product functions, which can meet the needs of video conference, multi-party communication, shared whiteboard, file transmission, application sharing and so on, bring users an integrated experience of display, interaction and collaboration, and meet the needs of enterprises and other institutions to improve conference and operation efficiency. At present, the conference service market is in its infancy. From the number of global conference rooms, the market of conference interactive intelligent tablet products has broad development space.
With the development of information technology and economic globalization, smart government is developing rapidly all over the world. Interactive intelligent display and control products are widely used in the field of intelligent government affairs. The intelligent construction in government affairs, public security, emergency and other fields is inseparable from the use of interactive intelligent display and control products. Especially under the influence of the epidemic, the demand for interactive intelligent display and control products has increased in the fields of teleconference and emergency command. With the continuous development of global smart government, the demand for interactive intelligent display and control products in the field of smart government will continue to grow in the future.
Due to the increasing aging of the global population and the increasing shortage of medical resources, governments and people all over the world pay more and more attention to the smart medical industry. The global smart medical industry is in the stage of steady development, and the market scale is expanding. Interactive intelligent display and control products are applied in many scenarios of smart medicine, mainly including telemedicine, expert consultation, medical monitoring, etc. With the development of global smart medicine, the demand for interactive intelligent display and control products in the global medical industry will continue to grow in the future.
With the deepening of application scenarios in enterprises and other fields and the emergence of new application methods, there is a huge space for the growth of the market scale of interactive intelligent display and control products in the future.
4. Improve the production system and ensure the stability and improvement of rapid delivery capacity
At present, the automation level of most outsourcing processing plants in China is relatively limited. In the period when the peak season of the industry overlaps with traditional holidays and covid-19 epidemic and other special periods, it is prone to problems such as personnel tension, insufficient operating rate, reduced delivery speed and increased processing cost, which has an adverse impact on the company's competitive advantages such as rapid delivery and cost control. Through this non-public offering, the company's production system will be further improved, so as to improve the anti risk ability and ensure the stability and improvement of the company's rapid product delivery ability.
5. Improve profitability and meet market demand and future development needs of the company
After years of rapid development, the company has become a provider of intelligent electronic products and solutions focusing on product innovation, R & D and design with display, interactive control and connection technology as the core. Guided by customer demand, relying on the accumulation of software and hardware technology in the fields of audio and video technology, signal processing, power management, human-computer interaction, application development, system integration and other electronic products, carry out technological innovation and product development for multiple application scenarios, and gradually achieve a leading position in the segment market through the integration of products and resources, with business all over the global market.
With the continuous improvement of the global market penetration of interactive intelligent display and control products, while meeting the increasing ODM orders of existing overseas customers for interactive intelligent display and control products, the company will continue to increase the development of OBM business, which will put forward higher requirements for the company's new product R & D and production cycle.
The smooth implementation of the project will effectively shorten the company's new product development cycle, reduce R & D costs, improve manufacturing capacity and production efficiency, and ensure the further improvement of the company's profitability; It will meet the company's industrial layout in the global market, further consolidate the company's leading position in the field of global interactive intelligent display and control, and meet the needs of the company's future development planning.
(III) feasibility of project implementation
1. Technical barrier advantages ensure the company's competitive position in the industry
Since its inception, the company has defined the development idea of "taking science and technology as the guide and innovation as the driving force", attached great importance to technological innovation and R & D investment, relied on the innovation and scientific research ability of the company's Central Research Institute and Central Academy of engineering, driven the continuous upgrading and iteration of various products of the company, and actively explored new technological development directions. From 2018 to 2020, the company's R & D investment totaled 2670.4948 million yuan, accounting for 5.22% of the operating revenue in the same period. While encouraging innovation, the company attaches great importance to the protection of innovation achievements and has established a relatively perfect intellectual property protection and management mechanism. As of December 31, 2020, the company has more than 5500 patents (including more than 1100 invention patents), and more than 2100 computer software copyrights and works copyrights. In 2020, the company applied for more than 1130 patents, of which invention patent applications accounted for more than 34%. Both the company and Guangzhou Shirui are national intellectual property demonstration enterprises assessed by the State Intellectual Property Office.
At present, the Central Research Institute of the company, as a forward-looking basic research and Application Research Department, has gathered foreign senior doctors and experts. So far, it has more than 100 people. Its main research directions are visual computing, voice signal information processing, data mining, natural language processing, medical signal analysis, etc. The Academia Sinica takes experts as the leaders of various research directions and is responsible for grasping the research direction and cutting-edge fields; Take researchers as the backbone talents, responsible for the research and development of core technologies and related algorithms; Take the engineering team as an important bridge to help scientific researchers realize technology transformation. With the help of echelon R & D mode, the company not only carries out basic research and Application Research on forward-looking technologies, but also closely looks for the path of technology landing and industrialization around specific application scenarios, so that the research results of Academia Sinica can be effectively applied in the specific product R & D of each business department. As the company's advanced engineering technology research department, the Central Academy of engineering has a number of senior doctors and experienced experts in the industry. Combined with the development trend of industry technology and the needs of various business products, it carries out research in the main directions of engineering materials, innovative processes, RF technology, standardized modular design, optics, intelligent manufacturing and computer-aided engineering.
Up to now, the Central Research Institute and the Central Academy of engineering have made a number of research achievements, which are at the forefront of the industry, and have been applied to the company's education business, enterprise service business and other practical scenarios to enrich and improve product functions and experience and strengthen the comprehensive competitiveness of the company's products.
2. The company has greater comprehensive cost advantages and higher rapid supply advantages
The company is the world's leading supplier of LCD main control board and China's leading supplier of interactive intelligent flat panel. The high market share of products makes the company have significant scale advantages in raw material procurement: on the one hand, large-scale procurement can reduce the procurement cost of raw materials and improve the cost advantage; On the other hand, large-scale procurement enables the company to establish a close cooperative relationship with upstream mainstream chip manufacturers and major LCD panel suppliers. The company can timely grasp the upstream technical trends and do a good job in the scheme design and technical pre research of new products as soon as possible, so as to ensure the technical leadership of the company's products.
In order to improve the efficiency of collaborative work across departments, multiple businesses and different regions, the company has built a number of information management systems, forming a business process information management mode from R & D and design, business opportunity management, order management, procurement management, production management, inventory management, logistics distribution to customer service. The deep combination of information technology and the company's business shortens the time from design to mass production of the company's products and improves the company's rapid supply capacity. The efficiency from scheme design, R & D to mass production has become an important basis for the company to maintain a leading position in the industry. Rapid supply enables the company to timely meet the needs of customers, quickly launch new products, improve customer satisfaction, and strengthen the cooperative relationship with customers.
The company's comprehensive cost advantage and rapid supply capacity provide favorable conditions for the implementation of the project.
3. The company's brand and customer resource advantages can ensure the smooth digestion of production capacity
At present, the company has a wide range of products in various fields of its main business
