Pci Technology Group Co.Ltd(600728)
Non public offering of A-Shares in 2022
Feasibility analysis report on the use of raised funds
1、 Use plan of the raised funds
The total amount of funds raised from this non-public offering of shares does not exceed RMB 3314480800. After deducting the issuance expenses, it is proposed to be used for the following five projects:
Unit: 10000 yuan
No. project name estimated total investment total amount of raised funds proposed investment
1 Digital twin core technology and open platform R & D project 90652.18 65016.89
2 new generation rail transit digital system R & D and industrialization 150403.18 99593.93 project
3 R & D and industrialization project of new generation traffic digital system for vehicle road coordination 36138.43 20760.50
4. National sales and service system upgrading project 51380.60 47076.76
5 supplementary working capital 99000.00 99000.00
Total 427574.40 331448.08
Before the funds raised from this non-public offering are in place, the company will invest in advance with self raised funds according to the actual 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. If the actual amount of raised funds (after deducting the issuance expenses) is less than the total amount of raised funds to be invested in the above projects, within the scope of the finally determined investment projects of the raised funds, the company will adjust and finally determine the specific investment projects, priorities and specific investment amount of each project according to the actual amount of raised funds and the priorities of the projects, The insufficient funds raised shall be raised by the company itself.
2、 Background and purpose of this offering
(I) background of this non-public offering
1. Digital economy is the main economic form after agricultural economy and industrial economy. It is urgent to grasp the new opportunities of digital development, expand new space for economic development and promote the healthy development of China's digital economy
Digital economy is an economic growth driven by information technology innovation. It is a new economic business form with the integration of digital technology and industry. Digital industrialization and industrial digitization constitute the basic category of digital economy. Digital industrialization is the added value of information industry, which refers to the provision of digital technology, products, services, infrastructure and solutions, as well as other economic activities that rely on digital technology and data resources. Industrial digitization empowers traditional industries with digital technology. The new output brought by the application of digital technology in traditional industries is an important part of digital economy. The specific applications include digital application scenarios such as smart city, intelligent manufacturing, Jiangsu Nonghua Intelligent Agriculture Technology Co.Ltd(000816) , industrial Internet and so on. During the 13th Five Year Plan period, China thoroughly implemented the development strategy of digital economy, continuously improved digital infrastructure, accelerated the cultivation of new business forms and models, and achieved positive results in promoting digital industrialization and industrial digitization. In 2020, the added value of China's core industries of digital economy will account for 7.8% of China's gross domestic product (GDP). Digital economy provides a strong driving force for the sustained and healthy development of economy and society.
In January 2022, the State Council officially issued the "14th five year plan" for the development of digital economy (hereinafter referred to as the "plan"). The plan points out that the development of digital economy is a strategic choice to grasp the new opportunities of a new round of scientific and technological revolution and industrial reform, an important embodiment of the country's comprehensive strength in the digital era and an important engine for building a modern economic system. The rapid development of digital economy, the wide range of radiation and the unprecedented depth of influence are promoting profound changes in the mode of production, lifestyle and governance, and becoming a key force in restructuring global factor resources, reshaping the global economic structure and changing the global competition pattern. According to the plan, by 2025, the digital economy will move towards a period of comprehensive expansion, and the added value of the core industries of the digital economy will account for 10% of GDP; In 2035, we will strive to form a complete and mature digital economic system, and strive to become the forefront of the world's mature digital economy. In 2035, we will strive to form a fair and orderly development of the digital economy.
2. Digital twin technology is the basic support of digital economy. It is promoted by national policies to accelerate the application of digital twin technology and the development of industry. Digital twin has a broad market space in the future
Digital economy takes digital transformation as the driving force and digital technology as the cornerstone. The new output brought by the application of digital technology in traditional industries is an important part of digital economy, and the digital twin technology to realize the digitization of traditional industries is the basic support of digital economy.
Digital twin is a digital concept and technical means. It takes the integration and integration of data and model as the core, constructs the accurate digital mapping of physical objects in digital space in real time, simulates, verifies, predicts and controls the life cycle process of physical entities based on data integration, analysis and prediction, and finally forms an optimization closed loop of intelligent decision-making. In order to build a digital image and achieve the above objectives, it is necessary to integrate digital technologies such as big data, cloud computing, artificial intelligence, blockchain, Internet of things, industrial Internet, virtual reality and augmented reality.
At the industry application level, digital twin has a wide range of application scenarios. Digital twin technology continues to empower traditional industries and promote industrial digitization. In the field of smart city, digital twin enables the whole life cycle links of urban planning, construction, governance and optimization, so as to realize the digitization of all elements of the city, the visualization of all States and the intellectualization of management and decision-making; Digital twin is also widely used in road traffic, station planning, smart subway and other transportation fields. It realizes the intelligent prediction and decision-making of urban traffic through data fusion modeling. In the industrial field, in petrochemical, metallurgical and other process manufacturing industries, digital twin focuses on scenes such as process control and major equipment management, enabling production process optimization; In discrete manufacturing industries such as equipment manufacturing and automobile manufacturing, focus on scenarios such as product digital design and intelligent operation and maintenance, and enable product life cycle management. In addition, digital twinning also has different degrees of application in many other fields.
In recent years, the state has continuously issued policies to promote the development and application of digital twin technology. In April 2020, the national development and Reform Commission and the central network information office jointly issued the implementation plan on promoting the action of "using numbers to enrich intelligence in the cloud" to cultivate new economic development, which raised the digital twin to the height of big data, artificial intelligence, 5g, etc., and devoted a chapter to "carry out the digital twin innovation plan", requiring "guiding all parties to participate in proposing solutions for digital twin".
In March 2021, "exploring the construction of digital Twin Cities" was incorporated into the outline of the 14th five year plan for national economic and social development and long-term goals for 2035 (hereinafter referred to as the "Outline"). The outline emphasizes deepening the construction of new smart cities, promoting urban data integration and sharing and business collaboration, and improving the comprehensive management and service capacity of cities, Improve the urban information model platform and operation management service platform, and build a digital twin city according to local conditions.
The development and application of digital twins are in full swing. In the future, with the continuous development of Internet of things, artificial intelligence, big data and other technologies, and driven by national policies, the application field of digital twins will be broader and its combination with industry will be deeper. IDC predicts that by 2025, the global digital twin market will grow from US $5.22 billion in 2020 to US $26.46 billion, with an average annual compound growth rate of 38.35%. Digital twin has broad development space in the future. At present, the digital twin market is still in the blue ocean stage. Many participants occupy part of the market with their different technical expertise in digital twin. With the deep integration of digital twin and various industries, the industrial pattern will gradually take shape in the next 3-5 years. Enterprises mastering the core technology of digital twin will quickly occupy the commanding heights of the industry and have a first mover advantage.
3. As the next urban form in the evolution of smart city, the construction of digital twin city has accelerated
Digital twin city is the next urban form in the evolution of smart city. The construction of digital twin city is related to the improvement of national governance level and governance capacity, and the industry development is obviously driven by policies. Since 2020, the state has successively issued relevant policies to vigorously promote the application and development of digital twin technology in smart cities. All localities have actively explored the construction of digital twin cities and promoted the evolution of smart city form.
In January 2020, the general office of the State Council issued the guiding opinions on supporting national new areas to deepen reform and innovation and accelerate high-quality development, requiring to further promote the construction of smart cities and improve the level of urban fine management. In March 2021, the fourteenth five year plan for national economic and social development and the outline of long-term goals for 2035 clearly put forward "promoting urban and rural development and governance model innovation with digitization", and "promoting the construction of urban data brain and exploring the construction of digital Twin Cities". In January 2022, the State Council issued the "14th five year plan" for the development of digital economy, which clearly proposed to comprehensively promote the construction of new smart cities and digital villages, and jointly optimize urban and rural public services. We will deepen the construction of a new smart city and improve the comprehensive management and service capacity of the city.
Shanghai, Zhejiang, Shenzhen and other places carried out pilot demonstrations to promote the construction of digital Twin Cities Based on the urban information model (CIM). Shanghai has put forward the "orientation of urban functions facing the digital age, accelerating the evolution of urban form to digital twin", piloting the construction of digital twin cities in Lingang New Area, and creating a demonstration area of Shanghai's digital transformation; Zhejiang Province released the first pilot list of digital twin construction, and applied digital twin technology to ten fields, such as subway safety management and large-scale transportation hub safety management; Shenzhen builds a visual urban space digital platform to explore the "digital twin city".
With the continuous boost of national policies, smart cities have developed rapidly. According to the statistics of China Business Industry Research Institute, from 2016 to 2020, the market scale of China's smart cities increased from 1.1 trillion yuan to 14.9 trillion yuan, with a compound annual growth rate of 91.8%; The scale of expenditure increased from US $14.7 billion in 2016 to US $25.9 billion in 2020, with an annual growth rate of more than 10%. Digital twin city is an important direction of the evolution of smart city form. The market scale of smart city has brought great demand for urban digital development. In the future, digital twin will present a blue ocean. 4. The digital "speed-up and upgrading" of rail transit provides a strong boost to digital twins
As an important connecting carrier in cities and even metropolitan areas, urban rail transit is of great significance to improve urban convenience and efficiency and promote regional economic synergy. In the context of digital economy, urban rail transit is an important basic support for the construction of transportation power and smart city. Comprehensive digital transformation is the general trend. The digitization of rail transit is at the starting point of a new round of "speed-up and upgrading".
As an important basic support of digital economy, digital twin enabled rail transit provides a strong boost for its digital transformation. With the continuous development of computer vision, big data, cloud computing, artificial intelligence, digital twinning and other technologies, it will further integrate with urban rail transit business, accelerate the comprehensive digital upgrading of rail transit, including passenger service, traffic organization, dispatching and command, station management, operation and maintenance, safety guarantee, emergency disposal and so on, so as to achieve safer rail transit More efficient, friendly and convenient, and further improve the informatization, intelligence, digitization and networking level of rail transit.
From the perspective of market scale, the cumulative operating mileage and investment scale of national urban rail transit show a rapid growth trend. According to China City City Mass Transit Association statistics: as of the end of 2021, Chinese mainland 45 cities were built 224 lines, the total scale of the construction lines was 4900 km, and the investment of the under construction projects amounted to 35924 billion yuan. In terms of rail transit investment, the investment scale increased from 384.7 billion yuan in 2016 to 811.7 billion yuan in 2021, with a compound annual growth rate of 16.11%; In terms of the cumulative operating mileage of rail transit, it has increased from 4153 kilometers in 2016 to 8301 kilometers in 2021, with a compound annual growth rate of 14.86%. A total of 244 urban rail transit operating lines have been opened in 45 cities. Driven by the evolution of urbanization and the acceleration of traffic digitization, the investment scale and operation mileage of rail transit are expected to maintain a rapid growth trend in the future, and the rail transit market space will be further expanded.
5. The company has been deeply engaged in intelligent rail transit, urban transportation, safety emergency and other fields for many years, has strong leading advantages, and its business is expected to grow further
The company's main business is based on self-developed artificial intelligence technology and combined with the digital upgrading needs of various urban scenes to form three main product lines: intelligent rail transit, smart urban transportation and urban safety emergency. The product forms cover all kinds of digital platforms and intelligent terminals. In recent years, the company has been selected into the "Top 60 mature Chinese AI business enterprises in 2020" of euro billion, the "top 100 leading enterprises in the new infrastructure industry" selected by the Internet Weekly of the Chinese Academy of Sciences, and the "top 25 face recognition technology companies in 2020", and has remained in the forefront of the industry rankings selected by professional media such as rail transit and smart city.
In recent years, the company's artificial intelligence products in various fields have realized the landing of a large number of products. In terms of intelligent rail transit, "smart station" series products have been delivered in Guangzhou lines 18 and 22, becoming a subway line integrating smart applications such as "face brushing" entry, interactive customer service, intelligent security inspection and holographic station control. The pilot implementation of "Huajia MOS Metro smart brain" series products will provide a basis for the realization of fully automatic subway operation, passenger flow prediction, intelligent dispatching Advanced applications such as fault prediction provide powerful algorithms, computing power and Metro big data resources; In terms of urban transportation, "IDPs urban traffic brain" series products have achieved a breakthrough in the application of super large cities, become the underlying technical platform of large-scale urban transportation system, and use traffic AI algorithm to collect and analyze tens of thousands of data in the city in real time
