Reply letter on the examination and inquiry of Guangdong Jiayuan Technology Co.Ltd(688388) the application documents for issuing shares to specific objects reply letter KSH Zi [2022] No. zc011
Question 1. About one of the projects raised and invested this time
According to the application materials and public information, (1) the investment project of high-performance lithium battery copper foil (project 1) includes the Guangdong Jiayuan Technology Co.Ltd(688388) park with an investment of 86 million yuan, the new high-performance copper foil technical transformation project with an annual output of 16000 tons (Project 1.1), the high-performance copper foil project with an annual output of 15000 tons (project 1.2) with an investment of 120 million yuan An annual output of 30000 tons of high-precision ultra-thin electronic copper foil project with an investment of 840 million yuan (project 1.3); In addition, 160 million yuan of the raised funds will be invested in the 20000 ton electrolytic copper foil project of Jiangxi Guangdong Jiayuan Technology Co.Ltd(688388) Co., Ltd. (project 2); (2) The filing documents and EIA approval obtained in project 1.3 are 2016 and 2017 respectively. Shandong Jiayuan has started construction in April 2017, and the issuer will start construction in the second half of 2021; The EIA of project 2 has not been completed; (3) In November 2021, the issuer signed the letter of intent for investment in Guangdong Jiayuan Technology Co.Ltd(688388) annual 50000 tons high-end copper foil construction project with Meixian District People's Government of Meizhou city; In February 2022, the issuer intends to use its own funds to contribute RMB 400 million in monetary form to jointly establish Guangdong Jiayuan Times New Energy Materials Co., Ltd. with Contemporary Amperex Technology Co.Limited(300750) to build a 100000 ton high-performance electrolytic copper foil project. The above project is an independent project from this raised investment project.
The issuer is requested to explain: (1) the sales of various specifications of copper foil products during the reporting period, the specific contents, specifications and application fields of each sub project of project 1 and the main products of project 2, and the differences between the existing products and the previous raised investment projects in terms of product structure, technical level, process difficulty, application field, etc; The advantages and disadvantages of the issuer's technical level and product performance of each raised investment project compared with its competitors in the same industry; (2) The issuer's production capacity and future capacity planning of projects that have reached production capacity and are under construction in each year during the reporting period, and analyze the rationality of the above-mentioned new capacity planning in combination with the downstream market factors such as the capacity of products of various specifications or market segments, the current and under construction capacity of the market, the development trend of the industry, the expiration of new energy vehicle subsidy policies, and the issuer's market share; In combination with the above situation, the capacity planning of the issuer's main customers, the proportion of the issuer's sales volume to its main customers in its purchase volume, the issuer's orders in hand, the production expansion of comparable companies, etc., analyze whether the issuer's raised investment project capacity can be fully digested; Reasons and rationality of large-scale production expansion plan before the previous raised investment project was put into operation; (3) The specific composition, calculation basis and calculation process of the investment amount of each sub project of project 1 and project 2; (4) Process, basis and results of benefit prediction of each subproject of project 1 and project 2; (5) Item 1.3 the filing and environmental impact assessment of the project took place earlier, and whether relevant procedures need to be handled again; The handover of the project between the issuer and Shandong Jiayuan means that the construction will start in the second half of 2021 Guangdong Jiayuan Technology Co.Ltd(688388) Xin Hui Shi Han Zi [2022] No. zc011 the specific progress of the EIA Reply of project 2 on March 11, 2022. If it cannot be obtained on time, whether it will have an adverse impact on the implementation process and benefit prediction of relevant raised investment projects; (6) The background, construction plan and capital source of the issuer's Contemporary Amperex Technology Co.Limited(300750) cooperative construction project with Meixian District People's Government of Meizhou City, the differences between the relevant projects and the previous and current projects, and the rationality and necessity of this project.
The reporting accountant is requested to check and express opinions on the above matters (3) (4), and the lawyer of the issuer is requested to check and express opinions on the above matters (5).
[description of issuer]:
1、 (3) the specific composition, calculation basis and calculation process of the investment amount of each sub project of project 1 and project 2
The investment amount of each sub project of project 1 high performance lithium battery copper foil investment project with raised funds and project 2 Jiangxi Guangdong Jiayuan Technology Co.Ltd(688388) Co., Ltd. with an annual output of 20000 tons of electrolytic copper foil is detailed as follows:
Unit: 10000 yuan
No. project name estimated total investment amount of the project and proposed investment amount of raised funds
1 high performance lithium battery copper foil raised fund investment project 3263891129000000
1.1 Guangdong Jiayuan Technology Co.Ltd(688388) Park newly added 16000 tons / year high-performance copper 100376568 Shanghai Pudong Development Bank Co.Ltd(600000) foil technical transformation project
1.2 high performance copper foil project with an annual output of 15000 tons 1371991312000000
1.3 high precision ultra-thin electronic copper foil project with an annual output of 30000 tons 88813428400000
2. 20000 ton electrolytic 197688461 Shanghai Pudong Development Bank Co.Ltd(600000) 0 copper foil project of Jiangxi Guangdong Jiayuan Technology Co.Ltd(688388) Co., Ltd
The specific investment composition of project 1 and project 2 is as follows.
(I) Project 1.1 Guangdong Jiayuan Technology Co.Ltd(688388) Park newly added 16000 tons / year high-performance copper foil technical transformation project 1. Investment amount composition
The project plans to build a high-performance copper foil production line with an annual output of 16000 tons. The main products are high-performance extremely thin copper foil for lithium-ion power battery, including 6 µ m and less than 6 µ M. The planned total investment of the project is 10037656 million yuan, mainly including construction engineering cost, equipment purchase and installation cost, etc. it is proposed to use the raised funds to invest 860 million yuan. The specific details are shown in the table below:
Guangdong Jiayuan Technology Co.Ltd(688388) XHZ [2022] No. zc011 March 11, 2022
Unit: 10000 yuan
Proportion of planned investment of No. project
1. Construction investment 9671359 96.35%
1.1 construction cost 2175803 21.68%
1.2 equipment purchase and installation cost 6458184 64.34%
1.3 other expenses of project construction 582698 5.81%
1.4 reserve fund 454674 4.53%
2. Initial working capital 366297 3.65%
Total project investment 10037656 100.00%
2. Calculation basis and calculation process
The calculation of the project investment amount is mainly based on the economic evaluation methods and parameters of construction projects (Third Edition), guidelines for feasibility study of investment projects and other documents. The specific calculation process is as follows:
(1) Construction investment
The construction investment of the project mainly includes construction engineering cost, equipment purchase and installation cost, other engineering construction costs and reserve fund.
A. Construction cost
No. project quantity (M2) unit price (yuan) total price (10000 yuan)
1 site leveling and treatment 7824645 35.00 273.86
2 main works 2085012
2.1 production plant 524593333 Rizhao Port Co.Ltd(600017) 62633
2.2 wooden case warehouse 4172003360001401792
2.3 raw material warehouse 3600003360 Guangdong Hongxing Industrial Co.Ltd(001209) 60
2.4 machine repair workshop 1641 People.Cn Co.Ltd(603000) 00 492.48
2.5 waste storage 288300000 86.4
2.6 guard room 1, 2 134.04250000 33.51
3 site supporting works 634.05
Total construction cost 2175803
B. Equipment purchase and installation cost
Serial number equipment name quantity (set) total price of using position (10000 yuan)
1 raw foil unit 60 raw foil workshop 1350000
2 cathode roller 61 raw foil workshop 1295000
Guangdong Jiayuan Technology Co.Ltd(688388) XHZ [2022] No. zc011 March 11, 2022
Serial number equipment name quantity (set) total price of using position (10000 yuan)
3 double beam crane 4 green foil workshop 260.00
4 single beam crane 8 slitting workshop 240.00
5 single beam crane 4 copper dissolving workshop 120.00
6 raw foil rectifier power supply 60 raw foil workshop 168000
7 copper dissolving tank 12 copper dissolving workshop 756.00
8 diatomite filter 24 copper dissolving workshop 168000
9 low level tank 12 copper dissolving workshop 780.00
10 high-level tank 12 copper melting workshop 156.00
11 titanium purification pump 24 copper dissolving workshop 288.00
12 waste titanium pump 24 copper dissolving workshop 288.00
13 copper dissolving green foil cooling system 12 copper dissolving workshop 360.00
14 sector heat exchanger 12 copper melting workshop 216.00
15 roots blower
