Securities code: 002986 securities abbreviation: Hunan Yussen Energy Technology Co.Ltd(002986) Announcement No.: 2022-022 Hunan Yussen Energy Technology Co.Ltd(002986)
Diluted immediate return on non-public offering of shares and filling measures
Announcement of commitments of relevant entities
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
According to the opinions of the general office of the State Council on Further Strengthening the protection of the legitimate rights and interests of small and medium-sized investors in the capital market (GBF [2013] No. 110) The requirements of relevant laws, regulations and normative documents such as the opinions of the State Council on further promoting the healthy development of the capital market (GF [2014] No. 17) and the guiding opinions on matters related to initial public offering, refinancing and dilution of immediate return of major asset restructuring (CSRC announcement [2015] No. 31) in order to protect the interests of small and medium-sized investors, The company has carefully analyzed the impact of this non-public offering of shares on the dilution of immediate return, and put forward specific measures to fill the diluted immediate return. The relevant subjects have made a commitment that the company’s measures to fill the immediate return can be effectively fulfilled. The details are as follows:
1、 Impact analysis of this offering
(I) main assumptions
1. It is assumed that there are no major adverse changes in the macroeconomic environment and securities market, and there are no major adverse changes in the company’s business environment, industrial policies and industrial development;
2. In order to fully reveal the dilution risk, it is assumed that the non-public offering will be completed before September 30, 2022. The completion time is only the estimation used by the company for this calculation, and the final time shall be subject to the actual completion time approved by the CSRC;
3. The number of shares in this non-public offering does not exceed 47602800 shares (including this number). Calculated according to the upper limit of this offering, the total share capital of the company will reach 206278800 shares after the completion of this offering. The number of shares issued this time is only an estimate. After the approval of the CSRC, the board of directors of the company shall negotiate with the sponsor (lead underwriter) of this issuance according to the authorization of the general meeting of shareholders, relevant regulations of the CSRC and the stock exchange and the actual situation at the time of issuance. Assuming that the total amount of funds raised by the company in this issuance is 300 million yuan, the impact of issuance expenses will not be considered temporarily;
4. According to the company’s performance forecast, the net profit attributable to the shareholders of the listed company in 2021 is expected to be 123 million yuan to 153 million yuan, and the net profit attributable to the shareholders of the listed company after deducting non recurring profits and losses is expected to be 115 million yuan to 145 million yuan. Assuming that it is calculated according to the average value of the performance forecast interval in 2021, the net profit attributable to the shareholders of the listed company in 2021 is 138 million yuan, and the net profit attributable to the shareholders of the listed company after deducting non recurring profits and losses is 130 million yuan;
Assuming that the net profit attributable to the shareholders of the parent company in 2022 is calculated according to the following three situations: (1) 20% lower than that in 2021; (2) Flat compared with 2021; (3) 20% higher than that in 2021; This assumption is only used to calculate the impact of the diluted immediate return of the non-public offering of shares on the main financial indicators, does not represent the company’s judgment on the business situation and trend in 2021 and 2022, nor does it constitute a profit forecast of the company. Investors should not make investment decisions based on this. If investors make investment decisions based on this, the company will not be liable for compensation;
5. The impact on the company’s production and operation and financial status (such as financial expenses and benefits from the investment projects of raised funds) after the arrival of the funds raised in this issuance is not considered;
6. The impact of other factors other than this non-public offering on the share capital is not considered;
7. When predicting the net assets of the company after issuance, the impact of other factors other than the raised funds and net profits on the net assets was not considered.
(II) impact on the company’s main financial indicators
Based on the above assumptions, the company calculated the impact of this non-public offering on the company’s main financial indicators in 2022, as follows:
Project year 2021 / year-end 2021 / year-end 2022 / year-end 2022 before this offering before this offering after this offering
Total number of shares (shares) at the end of the period 158676000 206278800
The total amount of funds raised this time (10000 yuan) is 300000 yuan
Scenario 1: the net profit attributable to the shareholders of the parent company in 2022 decreased by 20% compared with that in 2021
Net profit attributable to shareholders of the parent company (10000 yuan) 13800.00 11040.00 11040.00
Net profit attributable to shareholders of the parent company (10000 yuan) (deduct 13000.00 10400.00 10400.00 unless after recurring profit and loss)
Weighted average return on net assets (%) 7.01 5.29 3.89
Weighted average net assets after deducting non recurring profits and losses 6.60 4.98 3.66 yield (%)
Basic earnings per share (yuan / share) 0.87 0.70 0.65
Diluted earnings per share (yuan / share) 0.87 0.70 0.65
Basic earnings per share (yuan / share) (after deducting non recurring 0.82 0.66 0.61 profit and loss)
Diluted earnings per share (yuan / share) (after deducting non recurring 0.82 0.66 0.61 profit and loss)
Scenario 2: the net profit attributable to the shareholders of the parent company in 2022 is the same as that in 2021
Net profit attributable to shareholders of the parent company (10000 yuan) 13800.00 13800.00 13800.00
Net profit attributable to shareholders of the parent company (10000 yuan) (deduct 13000.00 13000.00 13000.00 unless after recurring profit and loss)
Weighted average return on net assets (%) 7.01 6.57 4.84
Weighted average net assets after deducting non recurring profits and losses 6.60 6.19 4.56 yield (%)
Basic earnings per share (yuan / share) 0.87 0.87 0.81
Diluted earnings per share (yuan / share) 0.87 0.87 0.81
Basic earnings per share (yuan / share) (after deducting non recurring 0.82 0.76 profit and loss)
Diluted earnings per share (yuan / share) (after deducting non recurring 0.82 0.76 profit and loss)
Scenario 3: the net profit attributable to the shareholders of the parent company in 2022 increased by 20% compared with that in 2021
Net profit attributable to shareholders of the parent company (10000 yuan) 13800.00 16560.00 16560.00
Net profit attributable to shareholders of the parent company (10000 yuan) (deduct 13000.00 15600.00 15600.00 unless after recurring profit and loss)
Weighted average return on net assets (%) 7.01 7.83 5.78
Weighted average net assets after deducting non recurring profits and losses 6.60 7.37 5.44 yield (%)
Basic earnings per share (yuan / share) 0.87 1.04 0.97
Diluted earnings per share (yuan / share) 0.87 1.04 0.97
Basic earnings per share (yuan / share) (after deducting non recurring 0.82 0.98 0.91 profit and loss)
Diluted earnings per share (yuan / share) (after deducting non recurring profits and losses of 0.82, 0.98 and 0.91)
Note: the above basic earnings per share, diluted earnings per share and weighted average return on net assets are calculated in accordance with the provisions of the rules for the preparation of information disclosure of companies offering securities to the public No. 9 – Calculation and disclosure of return on net assets and earnings per share.
2、 Risk tips for diluting the immediate return of this non-public offering
After the issuance, with the funds raised in place, the company’s net assets and total share capital will increase accordingly. Since it takes a certain period from the time the raised funds are put into use to the time when the raised investment project is put into operation and generates benefits, before the raised investment project generates benefits, the return of shareholders still depends on the existing business foundation of the company. Therefore, after the completion of this offering, the company’s earnings per share and return on net assets may decline to a certain extent in the short term. Investors are hereby reminded to pay attention to the risk that this non-public offering of shares may dilute the immediate return.
3、 Explanation on the necessity and rationality of this non-public offering of shares
The investment projects of the funds raised from the non-public offering of shares have been carefully demonstrated by the company. The implementation of the project is conducive to further enhance the company’s core competitiveness, improve the company’s capital structure and enhance the company’s sustainable development ability. For the specific analysis, see the announcement feasibility analysis report on the use of funds raised from the non-public offering of A-Shares in Hunan Yussen Energy Technology Co.Ltd(002986) 2022.
4、 The relationship between the investment project of the raised funds and the existing business of the company
The company is mainly engaged in the process R & D, production and sales of deep-processing organic chemical products with liquefied petroleum gas (LPG) as raw materials. The investment of the raised funds will focus on the main business, and the raised investment projects include “phase I of light hydrocarbon comprehensive utilization project” and supplementary working capital. After the completion of the investment project raised by this issuance, the company’s business scale will be further expanded, which will help the company accelerate product technology upgrading, enhance market competitiveness and enhance profitability. Therefore, the investment project of the raised funds meets the needs of the company’s overall strategic development. 5、 Reserves in personnel, technology, market and other aspects of the company’s raised investment projects
(I) personnel reserve
The company has been deeply engaged in the LPG deep processing industry for many years, has paid attention to the investment in technology research and development and the improvement of independent innovation ability for a long time, has cultivated a group of professional and technical talents and production and operation teams with solid professional knowledge and rich practical experience, and has also formed a management team with diligence and responsibility and strategic development vision. In addition, the company has established a relatively perfect talent training and introduction mechanism, which can continuously attract high-quality and high-level talents and ensure the smooth implementation of investment projects with raised funds.
(II) technical reserve
The company attaches great importance to the R & D investment in new products, new processes and new technologies, and maintains the industry-leading technical level. At present, the company has obtained 34 patents, including 19 invention patents and 15 utility model patents. The company’s main products such as isooctane and methyl tert butyl ether are recognized as high-tech products of Guangdong Province by Guangdong high tech Enterprise Association; The company’s main products have won the second prize of Guangdong science and Technology awarded by Guangdong Provincial People’s government and the first prize of Huizhou science and Technology awarded by Huizhou Municipal People’s government, and won the gold award of “invention and entrepreneurship Award – Project Award” at the 10th International Invention Exhibition; Yuxin chemical is also rated as a high-tech enterprise and innovative enterprise in Guangdong Province. The above technical advantages provide sufficient technical support for the implementation of raised investment projects.
(III) market reserve
Relying on the advantages of stable product quality, high cost performance, timely logistics and distribution service and perfect storage, the company has established a good brand image, won the general recognition of customers, accumulated many high-quality customers and maintained a stable cooperative relationship with them. Good brand awareness and high-quality customer resources have laid a solid foundation for the capacity digestion of this raised investment project.
6、 Specific filling measures taken by the company for diluting the immediate return of this non-public offering
Considering the dilution of the non-public offering of shares on the immediate return of ordinary shareholders, in order to protect the interests of shareholders and make up for the possible reduction of the immediate return, the company will take practical and effective measures to improve the management and use efficiency of the raised funds, further enhance the profitability and implement a sustained and stable profit distribution policy. The specific measures are as follows:
(I) improve the management system of raised funds and ensure the maximization of the use efficiency of raised funds
The company has complied with the company law of the people’s Republic of China and the securities law of the people’s Republic of China
