Feasibility analysis report on the use of funds raised by non-public offering of shares in 2021
1、 Use plan of the raised funds
The total amount of funds raised from this non-public offering of shares shall not exceed 2200 million yuan (including this amount). The net amount of funds raised after deducting the issuance expenses will be used for the following items:
Unit: 10000 yuan
Project name total investment amount of proposed raised funds
Energy storage system construction project with an annual output of 6gwh 67096.2351684.90 1 product expansion project
Project 1.2 17987.9917131.42 construction project of annual 5GW energy storage converter expansion
2.1 construction project of new smart meter 35954.6022931.00 force system 2.2 construction project of measurement and detection products
Key production 5080.444225.72 2 product industries
Upgrade item 2.3 construction project of 15204.5613610.30 automatic inspection, storage and distribution system of metering products
3 integrated energy system integration industrialization project 19834.5018890.00
4. Kelu enterprise technology center upgrading project 35619.4025526.66
5. Supplementary working capital 66000.0066000.00
Total 262777.72220000.00
The part of the total project investment higher than the proposed investment amount of the raised funds shall be raised by the company itself. 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 funds raised (after deducting the issuance expenses) less than the total amount of the raised funds to be invested in the above projects, within the finally determined scope of this raised investment project, the company will adjust and finally determine the specific investment projects and priorities of the raised funds and the specific investment amount of each project according to the actual amount of the raised funds and the priorities of the projects. The insufficient part of the raised funds shall be raised by the company itself No. 2、 Feasibility analysis of the board of directors on the use of the raised funds (I) expansion project of energy storage products
1. Project overview
The expansion project of energy storage products includes two subprojects: the construction project of energy storage system with an annual output of 6gwh and the expansion project of energy storage converter with an annual output of 5GW. The implementation subject is Yichun Kelu Energy Storage Technology Co., Ltd., a wholly-owned subsidiary of the company.
The construction project of energy storage system with an annual output of 6gwh is planned to invest 670962300 yuan, 51684900 yuan with raised funds, and the rest with its own funds. The products of the sub project mainly include full-function independent energy storage power station system for the power market, energy storage system, power storage system, communication base station power supply system, mobile energy storage system, distributed small energy storage system, special Battery Management System BMS for energy storage, energy storage management system EMS, Baize platform 1 for the whole life cycle of energy storage, energy storage virtual power plant aggregation terminal, etc, It can be widely used at the power grid side to alleviate the power supply pressure of power grid peak load, delay the expansion and upgrading of power transmission and distribution, and ensure emergency power supply; Power side thermal power plant joint frequency modulation and new energy supporting energy storage; Active peak shaving and valley filling at the user side, distributed energy storage, aggregation of virtual power plants, shared energy storage, microgrid in power-free areas, echelon utilization of power batteries and other fields. After the completion of the project, the annual capacity of energy storage system products can reach 6gwh.
It is planned to invest 179879900 yuan in the expansion construction project of 5GW energy storage converter with an annual output, 171.3142 million yuan with raised funds, and the rest with its own funds. The product of this sub project is the energy storage converter, the key equipment of the energy storage system. After the completion of the project, the annual capacity of energy storage converter products can reach 5GW.
By building high-standard production plants, introducing advanced production equipment and supporting facilities, recruiting high-quality and experienced production and management personnel, the project expands the production capacity of energy storage system products and energy storage converters, improves the equipment and technical process level, forms the advantages of large-scale production and full life cycle operation and maintenance, reduces product costs and improves product quality and performance, Meet the needs of all kinds of customers in an all-round way, so as to seize the development opportunities of the industry, comprehensively improve the competitiveness and influence of products, realize the rapid development of the company and contribute to the national "double carbon" goal.
2. Necessity of project implementation
(1) Seize the development opportunities of the industry and realize the rapid development of the company
In the context of the "double carbon" strategy, the CPC Central Committee and the State Council issued the opinions on completely, accurately and comprehensively implementing the new development concept and doing a good job in carbon peaking and carbon neutralization in October 2021. As the top-level design for the national implementation of the "double carbon" work, they put forward plans and arrangements for the development of the energy storage industry and required to accelerate the large-scale application of pumped storage and new energy storage, Promote the reform of power grid system, clarify the market dominant position of incremental distribution network, microgrid and distributed power generation focusing on the consumption of renewable energy, and accelerate the formation of an energy storage battery intelligent operation and maintenance platform independently developed by 1 company based on energy storage and peak shaving capacity
Development mechanism of new power installation; In the same month, the State Council issued the action plan for carbon peak by 2030 as the overall deployment of the carbon peak stage. In terms of energy storage, it is required to actively develop "new energy + energy storage", integration of source, network, load and storage and multi energy complementarity, and support the rational allocation of energy storage system by distributed new energy; In July 2021, the national development and Reform Commission and the National Energy Administration issued the guiding opinions on accelerating the development of new energy storage, which defined and quantified the development objectives of the energy storage industry at the national level for the first time, It is expected that the installed capacity of new energy storage will reach more than 30 million kW (more than 30GW) by 2025. The guiding opinions clearly put forward that the supporting energy storage of new energy will provide paid services, charge capacity electricity charges for power grid energy storage peak shaving, and allow energy storage to participate in spot transactions, which has solved the problem of profit model perplexing the development of energy storage industry and brought significant benefits to the rapid development of energy storage.
According to the statistics of Beijing Centergate Technologies (Holding) Co.Ltd(000931) energy storage industry technology alliance, by the end of 2020, the cumulative installed capacity of new electric energy storage put into operation has reached 3.28gw, which will reach 30gw2 in 2025. In the next five years, the scale of new energy storage market will be expanded to 10 times the current level, with an average annual compound growth rate of more than 55%; In the global market, bnef predicts that in 2030, the United States will deploy 34.3gwh, Europe will reach 31.2gwh, China will deploy 32.6gwh, and other countries and regions will deploy 11.4gwh3. The cumulative installed capacity of the global energy storage market is expected to increase to 1676gw / 5827gwh in 2050, and the cumulative global investment in the next 30 years is expected to reach 662 billion US dollars. 4.
The company has been involved in the field of energy storage since 2009. It is one of the earliest enterprises in China to enter the energy storage industry with rich industry experience. In recent years, the company has closely followed the national strategic emerging industry development plan, used the national and local scientific and technological innovation platform, cooperated with major universities, academies of Sciences, research institutes and academician workstations, carried out research on the application of energy storage in various fields of power generation side, transmission and distribution side and power consumption side of power system, and strengthened the industrial layout in energy storage. At present, the company's energy storage business mainly focuses on the typical application fields of energy storage at home and abroad, such as AGC frequency modulation, power grid peak shaving, independent energy storage power station, renewable energy supporting and overseas energy storage in the power industry. After years of development, the company has formed the advantage of seamless matching of the whole industry chain technology in the field of electrochemical energy storage. Through the construction of this project, with the help of production, technology and market advantages, the company will further expand the category and output of energy storage system products and energy storage converter products, improve product performance indicators, and better meet the needs of downstream application fields, so as to seize the development opportunities of the industry and realize the rapid development of the company.
(2) Expand high-quality production capacity to meet the rapidly growing market demand 2 Beijing Centergate Technologies (Holding) Co.Ltd(000931) energy storage industry technology alliance (cnesa) http://www.cn.esa.org/index/informdetail?cid=60840547b1fd37522c8b456c3 Report on "the great challenge of energy storage" issued by the US Department of energy (II): overview of the global energy storage market (1) 4 Guosheng Securities Research on new energy energy storage industry: overall acceleration of energy storage and contribution to carbon neutralization
With advanced technology and strict production quality management, the company's products and services have been widely recognized by customers. With the development of the industry and technological progress, the company's customers pay more attention to the manufacturing level and processing capacity of the enterprise, and have higher requirements on product quality and delivery date. Personalized programs and services are also increasingly important in the competition. The company needs to quickly provide customers with personalized customized products and solutions on the premise of ensuring quality.
The company's current production equipment and facilities of energy storage system have been slightly insufficient in terms of capacity, flexible production and rapid response to customer needs. There are certain limitations in the existing plant, warehouse and outdoor container commissioning area, Unable to meet large-scale projects outside China (100mwh level) production demand. The existing production equipment can not meet the production requirements of high-energy, high-density and diversified products. Therefore, the company plans to implement the energy storage system construction project, add an automatic pack production line, increase production capacity, and realize automatic assembly, automatic welding and automatic testing to ensure the consistency of pack assembly and cell performance Sex; Through MES, the whole line traceability of the company's internal logistics, manufacturing engineering configuration, production and quality process control are realized, the transparency of manufacturing links is improved, the "information gap" between the production site and the planning system is filled, and reliable decision-making basis is provided for the readjustment of the planning system.
In terms of energy storage converters, the company has carried out relevant R & D and manufacturing since 2010. It is the first batch of energy storage converter manufacturers with fully independent intellectual property rights in China. The product power level covers 5kW ~ 4MW, and the technical level is in the leading position in the industry. Under the background of the rapid growth of the global energy storage market demand, the company relies on its deep technical accumulation and excellent reputation in the field of energy storage converters. The Chinese market share of the company's converter products has always been stable in the first echelon, the orders in the European and American markets are also growing rapidly, and the orders with a single project exceeding 50MW capacity are gradually increasing. Limited by the current production equipment, production site, experimental site and other restrictions, the company's capacity bottleneck is becoming more and more prominent, which is difficult to meet the rapid delivery of orders with capacity of more than 100MW for a single project. At the same time, with the continuous development of industry technology, the delivered products show the trend of higher and higher power level and higher AC and DC voltage. The original test platform of the company can not meet the requirements of mass delivery of existing products. It is urgent to invest corresponding experimental equipment to ensure the quality of product delivery, and add test stations on the basis of conventional single test platform, Add experimental devices such as environmental experiment and power grid experiment.
The construction of the project is conducive to enhancing the supply guarantee capacity of energy storage products, improving the level of basic platform for R & D and testing of energy storage products, improving product performance indicators and meeting the rapidly growing market demand.
3. Feasibility of project implementation
(1) The implementation of the project is supported by national industrial policies and plans
With the growth of power demand, the peak valley difference of power grid load is becoming larger and larger. In order to improve the operation efficiency and reliability of equipment, it is more and more important to build an energy storage system to smooth power load. The utility of energy storage runs through the power generation, transmission and distribution and power consumption links of the power system. It can be used for renewable energy grid connection, power grid peak shaving / frequency modulation, distribution grid side distributed energy storage and user side distributed microgrid energy storage, as well as emergency standby power supply for important departments and facilities. The state has also issued various policies to give strong support. The main national industrial policies and industrial development plans are as follows:
Main contents of time sector policy
In 2021, the Action Party of carbon peak before 2030 requires to actively develop "new energy + energy storage" and energy sources
In October, the State Council's proposal for the integration of network load and storage and multi energy complementarity supported sub projects
Rational allocation of energy storage system for distributed new energy.
It is required to accelerate the promotion of pumped storage and new energy storage
Large scale application, promoting the reform of power grid system,
In 2021, the Central Committee of the Communist Party of China and the State Council on the complete, accurate and comprehensive implementation of the incremental plan focusing on the consumption of renewable energy
In October, according to the new development concept of the State Council, carbon peak distribution network and micro
