Securities code: 300480 securities abbreviation: Gl Tech Co.Ltd(300480) Gl Tech Co.Ltd(300480)
GL TECH CO., LTD
(No. 10, Changchun Road, Zhengzhou high tech Development Zone)
Issue convertible corporate bonds to unspecified objects
Feasibility analysis report on the use of raised funds
December, 2001
1、 Investment plan of the raised funds
The total amount of funds to be raised by the company in issuing convertible corporate bonds this time shall not exceed 400 million yuan (including
After deducting the issuance expenses, the net amount of the raised funds is planned to be invested in the following projects:
Unit: 10000 yuan
Project name total investment amount proposed to be invested with raised funds
1 ultra precision and high stiffness air spindle R & D and industrialization project 42763.9240000.00
Total 42763.9240000.00
If the net amount of funds actually raised this time (after deducting the issuance expenses) is less than the total amount of raised funds to be invested in the project, and the insufficient part of the raised funds shall be raised by the company. Before the raised funds are in place, the company will invest the self raised funds first according to the actual situation of the progress of the project invested by the raised funds, and replace them in accordance with the procedures specified in relevant laws and regulations after the raised funds are in place (I) project overview
The ultra precision and high stiffness air spindle R & D and industrialization project is mainly used for the construction of R & D laboratory, production line and relevant supporting facilities of high-power ultra-precision and high stiffness grinding and polishing air spindle and high-speed and high stability cutting air spindle. The total investment is 427639200 yuan and the construction period is 2 years. The R & D and industrialization project is the company's plan to improve the R & D and production capacity of the company's ultra-precision and high stiffness air spindle products by building production sites, introducing R & D and production equipment, recruiting R & D and production personnel, etc. in combination with the existing semiconductor localization development trend and based on the company's existing technical foundation and production management capacity. After the completion of the project, firstly, it will improve the company's R & D and experimental conditions, greatly improve the company's product R & D and experimental ability, and then help the company master the core technology of key parts of semiconductor equipment; Secondly, it helps to break through the bottleneck of enterprise production capacity and meet the demand of market growth; Thirdly, the project helps to obtain scale advantages, reduce cost and increase efficiency, and improve the profitability of the company; Finally, the products of the project are key parts of semiconductor equipment, which will help to supplement the short board of China's integrated circuit equipment industry chain, accelerate the localization process of semiconductor equipment, and comply with the company's future development plan. （2） Necessity of project implementation
1. Comply with the development trend of the industry, improve production capacity and meet the product needs of Chinese and overseas subsidiaries and customers
The main shaft, known as the "mechanical joint", is an indispensable basic component in modern mechanical equipment. It is the neck of China's manufacturing industry and restricts the healthy and steady development of China's manufacturing industry. With the continuous development of technology and the increasing application demand of downstream products, the spindle has gradually adopted gas lubrication technology to replace the traditional mechanical contact and liquid lubrication. Air spindle is used to provide a layer of compressed air for all surfaces to avoid wear. It has the advantages of stability, friction free operation, environmental protection design and cost-effectiveness. Therefore, the high-performance and high-precision air spindle has a very broad industrial application space and product expansion space. It is widely used in semiconductors, medical treatment, automobile painting, high-end machine tools, military industry, etc., with very high technical content and high technical barriers. The air spindle products produced by the company occupy a relatively dominant position in the industry in the subdivided fields, and the market share is rising steadily. They are mainly applicable to semiconductor, automobile painting, optical glass grinding, medical treatment, high-end machine tools, military industry and other industries. In recent years, due to the comprehensive action of various macro and micro factors such as policy, environment, technology, downstream drive and economic benefit drive, the semiconductor special equipment market has been vigorously developed, and the market has good development prospects, which also drives the air spindle, the core component in the company's semiconductor special equipment market, into a period of rapid development.
As an important participant in the semiconductor chip manufacturing industry chain, with its advantages in supporting R & D strategy, production capacity and CMMI5 software maturity certification, the company has established in-depth cooperative relations with multiple manufacturers for collaborative R & D and supporting supply. With the continuous improvement of market demand for semiconductor special equipment, on the one hand, the company needs to meet the incremental demand for air spindle of dicing machine independently developed and produced. At present, the supply of air spindle is mainly provided by British LPB company, and the dicing machine project applied by the company's air spindle is mainly located in China, which has the current situation of time-space mismatch. It is urgent to build a new production base of air spindle in China to cooperate with the collaborative development of dicing machine project. On the other hand, it should also meet the capacity demand of potential new customers for Ultra-precision and high stiffness air spindle. In addition, it should also meet the multiple requirements of downstream customers on product quality indicators, capacity supply capacity, order response speed, etc. However, with the rapid growth of orders in recent years, although the company has been continuously improving production efficiency on the basis of existing capacity, the production is still in a saturated state. With the gradual development of the company, the continuous development of new products and the continuous development of the market, it is expected that the company will continue to maintain a rapid growth momentum in the future, and the existing production capacity will be difficult to meet the customer's order demand. The enterprise must build the relevant production capacity in line with the development of the downstream market and the demand of the independent dicing machine for the air spindle, So as to solve the bottleneck of production capacity in the process of enterprise development in advance.
Therefore, in order to meet the actual demand and obtain more market share, this raised investment project plans to improve the capacity scale of the company's air spindle by building a new production site and purchasing advanced production and testing equipment, so as to solve the imminent capacity bottleneck and lay a solid foundation for the sustainable and rapid development of the company.
2. Solve the bottleneck problem of semiconductor equipment and create a global supply chain system
In recent years, with the transformation and upgrading of China's economic structure and the rise of emerging industries such as the Internet of things, new energy, new materials, energy conservation and environmental protection and a new generation of communication networks, China's electronic manufacturing industry has developed rapidly, driving the demand for upstream semiconductor products.
Due to the short development time of China's semiconductor industry, the industry as a whole is in a relatively backward position, semiconductor manufacturing and packaging are also relatively weak fields, and there is a certain gap from the foreign advanced level in terms of performance and technology. Air spindle is a key component in wafer manufacturing and packaging, and it is also a key link in the field of wafer manufacturing and packaging equipment. The quality of air spindle has an important impact on the accuracy, efficiency and cost of manufacturing and packaging. At present, in this field, the R & D and production enterprises of main air spindles are all foreign manufacturers, and few localization enterprises have arranged production in China. By acquiring 70% of the shares of LPB in the UK in 2017, the company will achieve full control by 2020 and become one of the first batch of enterprises to intervene in the field of air spindle in China. At present, the company's main air spindle production and R & D are completed by its subsidiary LPB in the UK. However, with the impact of the epidemic and the deepening of the production process, the current situation of unstable air spindle supply chain occurs frequently. It is urgent to establish an industrialization base of air spindle in China to meet the stable supply of products in the future by creating a global supply chain system of air spindle. On the one hand, under the impact of the covid-19 epidemic, the industrial chains of various countries have been impacted to varying degrees. Some products are out of stock in large areas due to insufficient production capacity. Thanks to the effective prevention and control of the epidemic in China, China's resumption of production and work is fast. When overseas production enterprises are unable to supply, the company relies on the construction of China's industrialization base, It helps to ensure the stability of the air spindle supply chain, solve the problem of sticking neck of core parts of semiconductor equipment, continuously meet the stable production and increase production of downstream applications of air spindle, and promote the localization and substitution of core parts of semiconductor equipment. On the other hand, through the global supply chain system of air spindle, it is conducive to alleviate the problem of rising supply chain costs caused by the epidemic in the UK LPB company, gradually eliminate the problems of insufficient supply effectiveness and capacity fluctuation of UK LPB products, ensure the stability of the supply chain and enhance the competitiveness of LPB.
Therefore, the local R & D and industrialization project of air spindle will help to ensure the stability of the supply chain of core parts of manufacturing and packaging equipment in China's semiconductor industry, solve the neck problem of core parts, create a global supply chain system, and further improve the company's supply capacity of core parts in the field of semi conductor equipment, It also helps to drive the coordinated development of British LPB company and enhance its competitiveness.
3. Layout the global R & D center of air spindle to serve global customers
After years of development, the air spindle produced by the company has occupied a certain market share. The company's various high-performance air spindles are provided to many customers outside China, including more than 50 foreign customers in Israel, Japan and Europe, as well as many customers in China. In addition, potential customers such as Tianjin Huahai Qingke Electromechanical Technology Co., Ltd. and CETC electronic equipment group company are also included. With the continuous development of downstream terminal application requirements, the technology and requirements of air spindle as a core component product also need to keep pace with the times. In order to meet the changing market demand in time, only by continuously improving the product technology level and mastering the corresponding product technology can the company occupy a dominant position in the increasingly fierce competition and realize sustainable development. With the continuous development of the company's business, the company's existing R & D conditions have been difficult to meet the needs of the company's future product development and business expansion, which are reflected in the urgent need to update R & D equipment, the narrow R & D site and the insufficient number of R & D personnel, which not only affect the R & D efficiency, but also difficult to meet the market demand in time and hinder the sustainable development of the enterprise. The company needs to continuously strengthen the investment in R & D and innovation, improve the company's R & D conditions, attract excellent talents and enhance the R & D and innovation ability, so as to fully ensure the healthy development of the company in the future.
At the same time, the air spindle R & D center is conducive to attracting excellent R & D talents and strengthening the construction of scientific research team. Since its establishment, the company has always adhered to the business philosophy of "no business to keep, innovation and strength", adhered to the development philosophy of "employees and enterprises grow together, and enterprises and society make progress together", built the enterprise vision of "global semiconductor equipment and industrial intelligent equipment enterprise mastering core technology", and kept in mind that independent innovation ability is the key to the survival and development of enterprises, Only by effectively improving the ability of independent innovation and mastering independent intellectual property rights can we provide important support for improving the company's competitiveness and anti risk ability. The company's R & D center is not only the main platform for enterprises to carry out innovation activities, but also the key link of independent innovation capacity-building. After the completion of the project, firstly, the company will have modern R & D laboratories and advanced R & D equipment, which provides an excellent hardware environment for attracting scientific research talents with interdisciplinary professional backgrounds such as materials science, aerodynamics and physics; Secondly, the perfect R & D management system, positive R & D incentive mechanism and innovative R & D atmosphere provide a good software environment for the company to attract high-quality R & D talents; Finally, the R & D center construction project will carry out product R & D and experimental projects with different dimensions and different downstream application scenarios, train and cultivate technical talents familiar with the R & D of innovative air spindle, and accelerate the transformation of the company's scientific and technological achievements.
The project plans to build a new R & D platform in Zhengzhou Airport Economic Comprehensive Experimental Zone, locate and layout the global R & D center of air spindle, and serve global customers. By configuring advanced, reliable and stable R & D equipment at home and abroad, establish a multi-functional product design and processing technology development platform with air spindle detection, air spindle product performance evaluation standards, air spindle production and processing technology, etc. Secondly, the project plans to strengthen exchanges and cooperation with well-known industry R & D institutions in China, which is conducive to attracting excellent R & D talents, further enriching the structure of R & D personnel and enhancing the construction of scientific research team. Finally, relying on the R & D center platform, we can track the new development trend of the industry, constantly break through the technical bottleneck, realize the technical breakthrough of ultra precision and high stiffness, and enhance the ability of R & D and innovation.
In conclusion, the implementation of the project conforms to the company's concept of sustainable development, helps to improve the company's R & D conditions and attract top talents in the industry, not only improves the company's continuous innovation ability and enhances the company's core competitiveness, but also provides China with ultra-high-precision wafer surface CMP flattening equipment, ultra-thin wafer grinding and thinning equipment The R & D and manufacturing of high-end equipment such as biaxial efficient and high-precision wafer cutting and dicing equipment has laid a good foundation for core parts, so as to get rid of the situation of being controlled by others in high-end equipment.
4. Obtain scale advantages, reduce cost and increase efficiency, and enhance the competitiveness of the company
With the continuous development of social economy, large-scale, intensive and industrialization have become the inevitable trend of development. Enterprises use capital, technology, talents and other production factors to drive the professional, large-scale and intensive development of production, which can effectively improve production efficiency, reduce production costs and operating expenses, establish their own competitive advantages and take root in the highly competitive market environment. With the development of semiconductor industry in recent years, the industrial concentration is increasing, and the economies of scale are also obvious. On the one hand, the average scale of enterprises is increasing and the industrial concentration is increasing; On the other hand, due to the improvement of China's technical level, the production line tends to be large-scale, automatic and energy-saving, the production efficiency is continuously improved, the unit investment, energy consumption and processing cost are continuously reduced, and the large-scale benefits of enterprises are gradually emerging.
In recent years, the company is committed to the R & D, production and sales of air spindle, actively introducing, digesting and absorbing new technologies, constantly enriching the company's product structure and improving the company's high-quality product supply. At present, the company's main air spindle products are produced by LPB, a British subsidiary, and then transported back to China, resulting in additional costs. On the one hand, the labor cost per unit product in Britain is higher than that in China, the modernization level of production is insufficient, and the production efficiency needs to be improved. On the other hand, after the finished products of the air spindle are produced by LPB in the UK, they need to be transported for a long distance to reach the Chinese factory for the assembly and production of the dicing machine, which brings additional transportation costs. The R & D and industrialization project of the company's new air spindle in China, through the establishment of a global air spindle supply chain system, is not only conducive to meeting China's production needs, but also
