Securities code: 300910 securities abbreviation: Xinxiang Richful Lube Additive Co.Ltd(300910) Announcement No.: 2021-077
Xinxiang Richful Lube Additive Co.Ltd(300910)
Announcement on the extension of some raised investment projects
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.
Xinxiang Richful Lube Additive Co.Ltd(300910) (hereinafter referred to as "the company") held the fifth meeting of the third board of directors and the fifth meeting of the third board of supervisors on December 24, 2021, deliberated and adopted the proposal on the extension of some raised investment projects, and agreed to decide to postpone the project on the premise of no change in the implementation subject, implementation method, investment purpose and investment scale of raised funds The date when the "lubricating oil additive research center project" reaches the expected usable state is adjusted to December 31, 2023, and the date when the "technical transformation project of 15200 tons of lubricating oil additive series products" reaches the expected usable state is adjusted to December 31, 2022.
1、 Basic information of raised funds
With the approval of China Securities Regulatory Commission on Approving the registration of Xinxiang Richful Lube Additive Co.Ltd(300910) initial public offering (zjxk [2020] No. 2396), the company publicly issued 37.5 million A-Shares to the public at an issue price of 30.26 yuan per share, raising a total of 1134.75 million yuan, deducting the issuance expenses of the Underwriters (tax excluded) RMB 72.8936 million and other issuance expenses (tax excluded) RMB 2002.28 million. The net amount of funds actually raised was RMB 104.18336 million, of which the total amount of over raised funds was RMB 7018336 million.
The above-mentioned raised funds were put in place on November 24, 2020, verified by Zhonghui Certified Public Accountants (special general partnership) and issued the capital verification report (zhhyy [2020] No. 6638). The company has deposited the raised funds in the special account for raised funds opened with the approval of the board of directors to manage the deposit and use of the raised funds.
2、 Investment projects with raised funds
1. According to the disclosure in the prospectus of Xinxiang Richful Lube Additive Co.Ltd(300910) initial public offering and listing on GEM, the investment projects and use plans of the funds raised by the company's initial public offering are as follows:
Unit: 10000 yuan
No. project name total investment planned to be raised
Capital investment
1. Annual output of 60000 tons of lubricating oil additive single agent products and 12800 tons of 342240034000.00 composite agent products
Total 34224.0034000.00
2. According to the proposal on the use of over raised funds to build scientific research center and the technical transformation project of 15200 tons of lubricating oil additives series products and the proposal on the use of some over raised funds to permanently supplement working capital, the investment projects of the company with over raised funds are as follows:
Unit: 10000 yuan
No. project name total investment planned to be raised
Capital investment
1 lubricating oil additive research center project 13500.0013000.00
2. 3500.003500.00 project for technical transformation of 15200 T / a lubricating oil additive series products
Part 3 permanent supplementary working capital of over raised funds 21000.0021000.00
Total 38000.0037500.00
3、 Use of raised funds
As of June 30, 2021, the company has used a total of 228709700 yuan of raised funds, as follows:
Unit: 10000 yuan
S / n project name planned cumulative investment amount of raised funds
1. Annual output of 60000 tons of lubricating oil additive single agent products and 12800 tons of 34000.001664.49 composite agent products
2 lubricating oil additive research center project 13000.00146 fourteen
3. Technical transformation of 15200 T / a lubricating oil additive series products 3500.0060 Item 34
Part 4 permanent supplementary working capital of over raised funds 21000.0021000.00
Total 71500.0022870.97
4、 Details of the extension of some raised investment projects this time
According to the actual progress of the projects invested with raised funds at present, on the premise of no change in the implementation subject, implementation mode, investment purpose and investment scale of the projects invested with raised funds, the estimated usable state date of some projects invested with raised funds is adjusted, as follows:
Sn item name original item reached expected availability date adjusted item reached expected availability date
1 lubricating oil additive research center project December 31, 2021 December 31, 2023
2. Annual output of 15200 tons of lubricating oil additives December 31, 2021 December 31, 2022
Technical transformation project of series products
5、 Main reasons for the delay of some raised investment projects
(i) Lubricating oil additive research center project
The project of lubricating oil additive research center is determined based on the company's development strategy, business development and industry development trend. The main implementation contents of the project include expanding the test office building, purchasing experimental equipment, establishing supporting laboratories, expert office building, etc. the project was originally planned to be completed on December 31, 2021. Affected by the company's actual operation, market environment and other factors, the construction progress of the experimental building was delayed and the negotiation cycle for the procurement of some imported equipment was prolonged, resulting in the overall progress of the R & D center project slowing down. The company fully considers the R & D needs, project construction cycle and fund use, and plans to extend the time for the project to reach the expected usable state to December 31, 2023.
At present, the project is being promoted. In order to effectively promote the implementation of the project and strengthen the company's R & D capacity, the company continues to purchase experimental and testing equipment according to R & D needs through measures such as transforming the existing experimental site, so as to improve R & D efficiency. In the next step, the company will further accelerate the construction progress of the experimental building, strengthen the negotiation and introduction of imported equipment, invest and implement according to the construction plan of raised investment projects, and continuously improve the company's R & D strength. （2） Technical transformation project of 15200t / a lubricating oil additive series products
The construction period of the project was originally planned to be 12 months, and the construction is expected to be completed on December 31, 2021. Due to the adjustment of the company's overall planning of the plant area and the impact of many factors such as repeated covid-19 epidemic, atmospheric control and flood in 2021, the overall progress of the project slows down and the production equipment and installation work are postponed. Therefore, the project invested with raised funds is delayed compared with the original delivery date. According to the actual situation and market demand of the company, it is planned to adjust the expected serviceable state date of the technical transformation project of 15200 tons of lubricating oil additives series products to December 31, 2022.
Up to now, the raised investment project is under implementation. The company will focus on the progress of infrastructure construction, the availability of subsequent key equipment, equipment installation and the overall construction and configuration of the project scheme, and invest and implement it according to the construction plan of the raised investment project.
5、 Impact of delay of some raised investment projects on the company
The postponement of some raised investment projects is a prudent decision made by the company according to the actual implementation of the project, which only involves the change of the date when the raised investment project reaches the expected usable state, does not involve the change of the project content, total investment and implementation subject, and does not change the investment direction of raised funds in a disguised manner and damage the interests of other shareholders, It will not have a substantial impact on the implementation of the raised investment project. The postponement and adjustment of some investment projects with raised funds will not have an adverse impact on the company's normal operation and change the company's established market strategy. On the premise of maintaining financial health, the company will strengthen the supervision of the project construction progress. The project will be constructed according to the new plan to improve the use efficiency of the raised funds.
6、 Relevant review and approval procedures
1. Deliberations of the board of directors
On December 24, 2021, the company held the fifth meeting of the third board of directors, which deliberated and passed the proposal on the extension of some raised investment projects. The company adjusted the schedule of the raised investment projects "lubricating oil additive scientific research center project" and "technical transformation project of 15200 T / a lubricating oil additive series products", The decision to adjust the expected availability date of "lubricating oil additive research center" to December 31, 2023 and the expected availability date of "technical transformation project of lubricating oil additive series products with an annual output of 15200 tons" to December 31, 2022 is based on the principle of prudence and reasonably combined with the actual progress of the current raised investment project, There is no change in the implementation subject, implementation mode and purpose of the raised funds of the raised investment project. The board of directors agrees to adjust the date when the raised investment project reaches the expected usable state. The proposal on the extension of some raised investment projects of the company does not need to be submitted to the general meeting of shareholders for deliberation.
2. Deliberations of the board of supervisors
The company held the fifth meeting of the third board of supervisors on December 24, 2021, deliberated and adopted the proposal on the extension of some raised investment projects. The board of supervisors believes that the company's postponement of some raised investment projects has not changed the purpose and investment direction of the company's raised funds, the total investment and construction content of raised investment projects have not changed, and the implementation background of raised investment projects has not changed significantly. The postponement of some raised investment projects of the company will not affect the implementation of the investment projects with raised funds, and there is no situation of changing the purpose of raised funds in a disguised manner and damaging the interests of shareholders. It is in line with the relevant provisions of China Securities Regulatory Commission and Shenzhen Stock Exchange on the management of raised funds of listed companies, in line with the interests of the company and all shareholders, and is also conducive to the long-term development of the company, It is agreed that the company will adjust the date when the "lubricating oil additive research center project" reaches the expected usable state to December 31, 2023, and the date when the "technical transformation project of 15200 tons of lubricating oil additive series products" reaches the expected usable state to December 31, 2022.
3. Opinions of independent directors
The independent directors believe that the postponement of some raised investment projects is a prudent decision made by the company according to the actual situation of the project, does not involve the change of project content, total investment and implementation subject, and does not change the investment direction of raised funds in a disguised manner and damage the interests of shareholders. Necessary approval procedures have been performed for the above matters, It complies with the provisions of the company law, the Listing Rules of Shenzhen Stock Exchange gem (revised in December 2020), the guidelines for the standardized operation of superior companies on Shenzhen Stock Exchange gem (revised in 2020) and other laws and regulations, normative documents and the articles of association. Therefore, we agree that the company will be the "lubricating oil additive research center" The date of reaching the expected serviceable state is adjusted to December 31, 2023, and the date of reaching the expected serviceable state of the "technical transformation project of lubricating oil additive series products with an annual output of 15200 tons" is adjusted to December 31, 2022. 4. Opinions of the sponsor
After verification, Dongxing Securities Corporation Limited(601198) believes that the extension of the investment project with raised funds has been deliberated and approved by the board of directors and the board of supervisors of the company, the independent directors have also expressed explicit consent, and the necessary approval and decision-making procedures have been performed. The postponement of the investment project with raised funds is affected by many factors and made according to the actual situation of the company's production and operation and the investment project with raised funds. The content, total investment and construction scale of the investment project with raised funds have not been adjusted, which will not have a significant adverse impact on the implementation of the investment project with raised funds, There is no change or disguised change in the purpose of the raised funds and damage to the interests of shareholders.
In conclusion, Dongxing Securities Corporation Limited(601198) has no objection to the extension of Xinxiang Richful Lube Additive Co.Ltd(300910) This part of the investment project with raised funds.
7、 Documents for future reference
(i) Third session
