Securities code: 688303 securities abbreviation: Xinjiang Daqo New Energy Co.Ltd(688303) Announcement No.: 2022-003 Xinjiang Daqo New Energy Co.Ltd(688303)
Announcement on capital increase of wholly owned subsidiaries
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal liabilities for the authenticity, accuracy and integrity of its contents according to law.
Important content tips:
Name of capital increase target: Inner Mongolia Daquan new energy Co., Ltd. (hereinafter referred to as "Inner Mongolia Daquan"), capital increase amount: 9.999 billion yuan
The capital increase has been deliberated and approved at the 19th meeting of the second board of directors and the 12th meeting of the second board of supervisors, and needs to be submitted to the first extraordinary general meeting of shareholders in 2022 for deliberation
This capital increase does not constitute a related party transaction stipulated in the Listing Rules of Shanghai Stock Exchange science and innovation board and the Xinjiang Daqo New Energy Co.Ltd(688303) articles of association, nor does it constitute a major asset reorganization stipulated in the administrative measures for major asset reorganization of listed companies.
1、 Overview of this capital increase
(i) Basic information of this capital increase
Xinjiang Daqo New Energy Co.Ltd(688303) (hereinafter referred to as "the company") held the 19th meeting of the second board of directors and the 12th meeting of the second board of supervisors on December 31, 2021, deliberated and adopted the proposal on capital increase of wholly-owned subsidiaries and other proposals, and agreed to increase the capital of the wholly-owned subsidiary, Inner Mongolia Daquan, with its own or self raised capital of RMB 9.999 billion, It is used for the investment, construction and operation of "100000 t / a high-purity polysilicon + 1000 t / a semiconductor polysilicon" of Inner Mongolia Daquan phase I project in Baotou City, and the investment is completed according to the follow-up progress of the project. The capital increase to Inner Mongolia Daquan will increase its registered capital. After the capital increase, the registered capital of Inner Mongolia Daquan will increase from RMB 1 million to RMB 10 billion.
（2） Decision making and approval procedures for this capital increase
On December 31, 2021, the company held the 19th meeting of the second board of directors and the 12th meeting of the second board of supervisors, deliberated and adopted the proposal on capital increase of wholly-owned subsidiaries, which needs to be submitted to the first extraordinary general meeting of shareholders in 2022 for deliberation.
This capital increase does not constitute a related party transaction stipulated in the Listing Rules of Shanghai Stock Exchange science and innovation board and the Xinjiang Daqo New Energy Co.Ltd(688303) articles of association, nor does it constitute a major asset reorganization stipulated in the administrative measures for major asset reorganization of listed companies.
2、 Basic information of capital increase target
Company name: Inner Mongolia Daquan new energy Co., Ltd
Unified social credit Code: 91150207ma0rt2rn5x
Legal representative: Xu Guangfu
Registered capital: 1 million yuan
Date of establishment: October 25, 2021
Address: East of 10000 ton carbon fiber industrialization project of Inner Mongolia Guangwei Carbon Fiber Co., Ltd. and south of Weisi Road, Jiuyuan Industrial Park, Jiuyuan District, Baotou City, Inner Mongolia Autonomous Region
Business scope: Sales of photovoltaic equipment and components; Manufacturing of special equipment for semiconductor devices; Manufacturing of special electronic materials; Sales of special equipment for semiconductor devices; Manufacturing of non-metallic mineral products; Sales of electronic special materials; Manufacturing of photovoltaic equipment and components; Technical services, technical development, technical consultation, technical exchange, technology transfer and technology promotion; Research and development of special electronic materials; Cecep Solar Energy Co.Ltd(000591) power generation technical services; Manufacturing of synthetic materials (excluding hazardous chemicals); Sales of synthetic materials; Common nonferrous metal smelting; Ferroalloy smelting; Research and development of new material technology; Research and development of metal products; Manufacturing of power electronic components; Non ferrous alloy sales.
Equity structure: before and after this capital increase, the company holds 100% equity of Daquan, Inner Mongolia.
Main financial data of the latest period: Inner Mongolia Daquan was established on October 25, 2021. As of the date of this announcement, Inner Mongolia Daquan has not been actually operated and has no financial data yet.
Capital increase method: self owned or self raised funds
3、 Impact on the company after this capital increase
After the capital increase, the registered capital of Inner Mongolia Daquan increased from RMB 1 million to RMB 10 billion, and it is still a wholly-owned subsidiary of the company. This capital increase will help the company to promote the investment and construction of "100000 t / a high-purity polysilicon + 1000 t / a semiconductor polysilicon" in Baotou phase I project as soon as possible. On the one hand, it will expand the production capacity of high-purity polysilicon, further consolidate and expand the market share of the company's high-purity polysilicon business, and on the other hand, it will help to further optimize the company's main business structure, Realize the diversification of the company's product structure and improve the company's comprehensive competitive advantage and profitability.
4、 Purpose of this capital increase
Accelerate the company's investment and construction in Baotou phase I project "100000 t / a high-purity polysilicon + 1000 t / a semiconductor polysilicon" to enhance the company's comprehensive competitive advantage.
It is hereby announced.
Xinjiang Daqo New Energy Co.Ltd(688303) board of directors January 4, 2022
